Homework Answers
Accounting equations
Total Assets = Total Liabilities + Stockholders Equity
When Equipment are purchased for Cash
Cash will be reduced by $1380 and Equipment will be increased by $1380 . Both accounts are assets therefore both account will write off the transactions amount of $1380 because one asset account decreasing(Cash) and other is increasing(Equipment) ,eventually there will be no effect on total assets and accounting equations.
Option (B) "no changes in Total assets " is correct.
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If a company uses $1,300 of its cash for Equipment, the effect on the accounting equation would be Assets decrease $1.500 and equity decreases $1,300. DA Assets increase $1,300 and liabilities decrease $1,300 B. Assets increase $1,300 and liabilities increase $1,300 One asset increases $1,300 and another asset decreases $1,300, causing no effect ving to another question will save this response.
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If a company purchases equipment costing $5,100 on credit, the effect on the accounting equation would be: med Multiple Choice 0 Equity increases $5,100 and liabilities decrease $5,100. SU KI Assets increase $5,100 and liabilities increase $5,100. 0 d liabilities increase he n 0 Equity decreases $5,100 and liabilities increase $5,100. 55.10 es re Assets increase $5,100 and liabilities decrease $5,100. S0 0 See 0 Liabilities decrease $5,100 and assets increase $5,100.
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When a company issues common stock for cash, what is the effect on the accounting equation for the company? Select one: a. Assets increase and liabilities increase. O b. Liabilities decrease and stockholders' equity increases. O C. Assets increase and stockholders' equity increases. O d. Assets decrease and liabilities decrease. Jump to... • How Accounting Systems Work (B. il auto.proctoru.com is sharing your screen. Stop sharing Hide
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If a company uses $1,300 of its cash for Equipment, the effect on the accounting equation would be Assets decrease $1.500 and equity decreases $1,300. DA Assets increase $1,300 and liabilities decrease $1,300 B. Assets increase $1,300 and liabilities increase $1,300 One asset increases $1,300 and another asset decreases $1,300, causing no effect ving to another question will save this response.
If a company purchases equipment costing $5,100 on credit, the effect on the accounting equation would be: med Multiple Choice 0 Equity increases $5,100 and liabilities decrease $5,100. SU KI Assets increase $5,100 and liabilities increase $5,100. 0 d liabilities increase he n 0 Equity decreases $5,100 and liabilities increase $5,100. 55.10 es re Assets increase $5,100 and liabilities decrease $5,100. S0 0 See 0 Liabilities decrease $5,100 and assets increase $5,100.
Current Attempt in Progress During 2017, Ivanhoe Company entered into the following transactions. Purchased equipment for $297,550 cash. Issued common stock to investors for $138,090 cash. Purchased inventory of $72,350 on account. 1. 2 3. Using the following tabular analysis show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or...
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Rosewood Company purchased land for $140,000 by making a cash payment of $28,000 and promising to pay the remaining amount in a later accounting period. What is the net effect of this transaction on Rosewood's accounting equation? O A. assets increase by $140,000 and liabilities decrease by $112,000 OB. assets and equity increase by $112,000 OC. assets increase by $140,000 and liabilities decrease by $28,000 OD. assets and liabilities increase by $112,000
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