John contributed $6,000 to the business by opening a bank account in the name of the business, United Internists. This transaction results in an increase in the assets of the business.

Question

Dralock3261 Dralock3261

08-02-2020
Business

contestada

John contributed $6,000 to the business by opening a bank account in the name of the business, United Internists. This transaction results in an increase in the assets of the business.

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tutordamola tutordamola · Answer 1 · 2020-02-08T09:07:59+01:00

Answer:

John contributed $6,000 to the business by opening a bank account in the name of the business, United Internists. This transaction results in an increase in the assets of the business.

True or False.

The answer is TRUE.

Explanation:

The answer is true as stated above.

The asset that increases in value in Cash in bank.

$6,000 in the bank is an asset to the business because the business own and controls it and it will bring future economic benefits to the business