Clayton company purchased a new coffee maker in the amount of $3,500. clayton paid $1,000 down and will pay the remainder in 60 days. what effect does this transaction have on the accounting equation?
a.$3,500 net increase in assets and $2,500 increase in liabilities
b.$2,500 net increase in assets and $2,500 increase in liabilities
c.$3,500 net increase in assets and $3,500 increase in liabilities
d.$1,000 net decrease in assets and $1,000 decrease in liabilities

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.

In terms of precent, beer has more alcohol than whiskey true or false

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes