If a company receives $11,400 from a client for services provided, the effect on the accounting equation would be: increase in assets and equity
What is accounting equation?
The accounting equation indicates that all assets of a company are financed from equity and liabilities, in essence, total assets are the same as the sum of equity and liabilities
assets=equity+ liabilities
A receipt of $11,400 for services provided would impact assets, in that cash would increase, which means assets would increase by $11,400 and also on the premise that such services were provided for cash, the sales revenue which flows into equity would also increase.
Find out more about accounting equation on:on:brainly.com/question/18367078
#SPJ1
