LMN Enterprises performs accounting services for a client for $3,000 cash. What is the effect on the accounting equation?

The equation remains balanced but there is a total increase of $ 3000 on both sides.

Explanation:

Cash is increased by earning a cash of $ 3000 and so is the revenue increased .  Increase in the revenue means increase in the capital.

The total profit earned is added in the Capital.

The increase in the right hand side of the equation is equal to the increase in the left hand side of the equation.

Assets = Liabilities + Capital

Cash +Assets = Liabilities + Capital + Revenue

+ $ 3000        =                                  + $ 3000

The equation remains balanced but there is a total increase of $ 3000 on both sides.

answerthe united states of america;

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