Land is purchased by a business for $100,000. The company pays for the land by a cash payment of $20,000 and promised to pay the remaining amount at a later period. What is net effect of this transaction on the business's accounting equation?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Land is purchased by a business for $100,000. The company pays for the land by a cash payment of $20,000 and promised to pay the remaining ...” 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
5. Calculating tax incidence Suppose that the U. S. government decides to charge beer producers a tax. Before the tax, 40 billion cases of beer were sold every year at a price of $7 per case.
Answers (1)
Question 1 Presented below is the basic accounting equation. Determine the missing amounts. Assets = Liabilities + Owner's Equity (a) $80,000 $59,000 $ (b) $ $47,000 $65,000 (c) $88,000 $ $54,000
Answers (1)
If a customer purchases $500.00 in merchandise on account, and the terms are 2/10, n/30, what would the customer owe if he were to pay the balance on the 9th day
Answers (1)
Which form of business ownership generates the most sales in the united states?
Answers (1)
A share of stock in the Bree Medical Supply Company is quoted at 351/4. Suppose you hold 20 shares of that stock, which you bought at 311/2. If you sold your stock at 351/4, which of the following would be true? A. You suffered a loss of $630.00. B.
Answers (1)
New Questions in Business
Zero Corp. suffered a loss having a material effect on its financial statements as a result of a customer's bankruptcy that rendered a trade receivable uncollectible.
Answers (2)
Upward communication among organizational members at the same level can facilitate task coordination, provide means of sharing information, provide formal channel of communication for problem solving, and facilitate mutual support for staff involved.
Answers (1)
Last year, a women's professional organization made two small-business loans totaling $23,000 to young women beginning their own businesses. The money was lent at 9% and 11% simple interest rates.
Answers (1)
When Crossett Corporation was organized in January 2018, it immediately issued 4,000 shares of $50 par, 6 percent, cumulative preferred stock and 50,000 shares of $20 par common stock.
Answers (1)
If the market is in equilibrium, then an option must sell at a price that is exactly equal to the difference between the stock's current price and the option's strike price. a. True b. False
Answers (1)