On August 13, 2018, Swell Maps Enterprises Purchased Equipment for $1,300

question 82

Short Answer

On August 13, 2018, Swell Maps Enterprises purchased equipment for $1,300 and supplies of $200 on account. Which of the following journal entries is recorded correctly and in the standard format? a.
$\begin{array}{ll}\text { Equipment } &1,300\\\text { Account Payable }&&1,500\\ \text { Supplies }&200 \\\end{array}$

b.
$\begin{array}{llr} \text { Equipment } &&1,300\\ \text { Supplies} &&200\\ \text { Account Payable } &1,500\end{array}$


c.
$\begin{array}{llr} \text { Account Payable} &1,500\\ \text { Equipment} &&1,300\\ \text { Supplies } &&200\end{array}$

d.
$\begin{array}{llr} \text { Equipment } &1,300\\ \text { Supplies} &200\\ \text {Account Payable } &&1,500\end{array}$

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Definitions:

Equity Carve-out

A corporate strategy where a company creates a new, independent company by selling or distributing new shares of its existing business.

Antitrust Issues

Legal matters concerning regulations that prevent monopolies and promote competition, aiming to protect consumers and ensure fair business practices.

Conglomerate

A conglomerate is a large corporation that owns a number of different companies across various industries, often with no common business area.

Horizontal

In economic terms, horizontal integration refers to the process of a company increasing production of goods or services at the same part of the supply chain.