Assume that Global Cleaning Service performed cleaning services for a department store on account for $180. How would this transaction affect Global Cleaning Service's accounting equation? A. Increase both assets and liabilities by $180 B. Increase both assets and equity by $180 C. Increase both liabilities and equity by $180 D. Decrease liabilities by $180, and increase equity by $180

B. Increase both assets and equity by $180

Explanation:

Since Global cleaning service performed cleaning services for a departmental store for account for $180

So this transaction would be recorded as  

Account receivable  $180

     To Service revenue $180

(Being the service performed is recorded)

By passing this journal entry, it increases the balance of the asset and together with it the equity balance is also increases due to an increase in service revenue

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

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