Ask Question
BusinessBusiness
22 November, 18:44

Bliss corporation settles a liability by making a payment in cash. how does paying this liability affect the accounting equation of the business?

+5
Answers (1)
  1. 22 November, 19:40
    0
    Assets decrease and Liability also decrease. Assets is anything that is tangible or intangible that can be owned or controlled to produce by company it is also an economic resources. Liability on the other hand is the responsible of person to something especially stated by law.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Bliss corporation settles a liability by making a payment in cash. how does paying this liability affect the accounting equation of the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Lisa sells kitchen furniture through her website. While her sales are stable, she's concerned that they're not keeping pace with those of other online furniture stores. How can a Google Search campaign benefit Lisa's business? a.
Answers (2)
Shawn is on the executive board for ABC pharmaceuticals. The company produces the number one selling cancer-fighting drug on the market.
Answers (1)
Which activities in the accounting process focus on identifying, classifying, and summarizing economic events? Select all that apply. A : identification B : communication C : calculating D : extracting E : recording F : transmitting
Answers (1)
Selected transactions for Sheffield's Dog Care are as follows during the month of March. March 1 Paid monthly rent of $1,270. 3 Performed services for $150 on account. 5 Performed services for cash of $80. 8 Purchased equipment for $635.
Answers (1)
A company sold equipment that originally cost $250,000 for $50,000 cash. the accumulated depreciation on the equipment was $200,000. the company should recognize a:
Answers (2)
New Questions in Business
How did the Once-ler encourage his target market to learn more about the thneeds?
Answers (1)
Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per unit $6.30 Selling price $11 Variable selling and administrative expenses per unit $1.
Answers (1)
What is NOT one of the three primary resources that families have to reach financial goals?
Answers (1)
Interest groups ___. Are most often set up by or work for elites and corporations Work to influence laws and policies Work to influence court rulings All of these answers
Answers (1)
What if the tile work had proceeded as contracted and looked good, but STR refused to pay, saying it didn't meet their personal satisfaction (even though the contract didn't mention this option). Could STR refuse to pay?
Answers (1)
Home » Business » Bliss corporation settles a liability by making a payment in cash. how does paying this liability affect the accounting equation of the business?
Sign Up Forgot Password?