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Author Question: Stackables, Inc. paid 8,000 cash for inventory. The effect of this transaction on the accounting ... (Read 101 times)

Sufayan.ah

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  • Posts: 512
on: Jul 5, 2018
Stackables, Inc. paid 8,000 cash for inventory. The effect of this transaction on the accounting equation is:
 
  A) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   Increase No effect No effect Increase
 
  B) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   Decrease No effect No effect Decrease
 
  C) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   No effect No effect No effect No effect
 
  D) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   Increase No effect Increase No effect

Question 2

As a result of an inadequate design, a production process yields an abnormally high amount of raw material scrapped. Which control goal is being violated?
 a. ensure effectiveness of operations
  b. ensure efficient employment of resources
  c. ensure security of resources
  d. ensure input accuracy


dlook33

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

B


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