This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A company with a perpetual inventory system purchases inventory on account. What is the effect of ... (Read 157 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: Jul 5, 2018
A company with a perpetual inventory system purchases inventory on account. What is the effect of this transaction on the accounting equation?
 
  A) increase one asset and decrease another asset
  B) increase an asset and decrease retained earnings
  C) increase an asset and decrease a liability
  D) increase an asset and increase a liability

Question 2

A(n) ___________________ _ contains a listing of all items being deposited.
 Fill in the blank(s) with correct word


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sultansheikh

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

deposit ticket


Melani1276

  • Member
  • Posts: 516
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

The Effect of Group Size on Relationships The Effect of Group Size on Relationships
Active fuel management includes many different components and changes to the oiling system, which ... Active fuel management includes many different components and changes to the oiling system, which ...
The urinary system. The urinary system.
The urinary system The urinary system
Greenhouse Effect Greenhouse Effect
Divisions of the Nervous System Divisions of the Nervous System
Video: Neuron Type Animation

For a complete list of videos, visit our video library