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Purchased trucks and office equipment for cash
Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks are assets because the company uses them to earn revenues in the future. Note that this transaction doesn't change the total amount of assets in the basic equation but only changes the composition of the assets. This transaction reduces cash and increased trucks and office equipment (assets) by the total amount of the cash decrease. Metro inward two assets and gave up one asset of equal value. Overall assets are still USD 36000 the accounting equation now is
While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine
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Solve accounting income statement question in single step with given details.. The following are information for the Lotu Wo Company: Net Sales 5
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on January 1,20x1,A had 200,000 shares of $5 par value common stock outstanding. On January 15 declared a cash dividend of $0.5 a share
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