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Which of the following is NOT a possible effect on the accounting equation from a single...
Effect of Transactions on Accounting Equation What is the effect of each of the following transactions...
Effect of Transactions on Accounting Equation What is the effect of each of the following transactions on the three elements (assets, liabilities, and stockholders' equity) of the accounting equation? a. Invested cash in business in exchange for common stock. b. Paid for business expenses. c. Paid dividends. d. Purchased supplies on account. e. Received cash for services performed. th Decreases assets and decreases liabilities. Decreases assets and decreases stockholders' equity. Increases assets and increases stockholders' equity. Increases assets and increases...
1. Which of the following is something of value owned by the company? (a)Cash (b) Common...
1. Which of the following is something of value owned by the company? (a)Cash (b) Common Stock (c) Supplies Expense (d) Notes Payable 2. Windward Inc. makes a payment of $500 on its accounts payable. How does this effect the accounting equation? a. Assets decrease and Liabilities decrease b. Assets increase and Equity Decreases c. Assets decrease and Equity decreases d. Assets increase and Liabilities increase e. Assets decrease and Liabilities increase 3. Chitron Corporation earns $750 working for a...
ABC Company's owner withdrawals $2,000 cash. What is the effect on the accounting equation? A. Assets...
ABC Company's owner withdrawals $2,000 cash. What is the effect on the accounting equation? A. Assets increase by $2,000 and equity increases by $2,000. B. Assets decrease by $2,000 and equity decreases by $2,000. C. Assets decrease by $2,000 and liabilities decrease by $2,000. D. The amount of total assets remains the same
If a company uses $1,300 of its cash for Equipment, the effect on the accounting equation...
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.
When a company issues common stock for cash, what is the effect on the accounting equation...
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
Indicate how the following transactions affect the accounting equation. a. The purchase of supplies on account....
Indicate how the following transactions affect the accounting equation. a. The purchase of supplies on account. Assets decrease; stockholders' equity decreases b. The purchase of supplies for cash. Assets decrease; stockholders' equity decreases Payment of cash dividends to stockholders. Assets increase; liabilities increase d. Revenues received in cash. Assets increase; stockholders' equity increases Sale made on account. No effect e.
If a company purchases equipment costing $5,100 on credit, the effect on the accounting equation would...
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.
QUESTION 9 One effect on the accounting equation when a firm borrows money is that a....
QUESTION 9 One effect on the accounting equation when a firm borrows money is that a. stockholders' equity decreases. b. liabilities decrease. c. assets increase. O d. assets decrease.
If a company receives $11,600 from the owner to establish a proprietorship, the effect on the...
If a company receives $11,600 from the owner to establish a proprietorship, the effect on the accounting equation would be: A. Assets decrease $11,600 and equity decreases $11,600 B. Assets increase $11,600 and liabilities decrease $11,600 C. Assets increase $11,600 and liabilities increase $11,600 D. Liabilities increase $11,600 and equity decreases $11,600
11. Jason Repair Company incurred $1.500 as an advertising expense and promised to pay the advertising...
11. Jason Repair Company incurred $1.500 as an advertising expense and promised to pay the advertising agency within 30 days. The company is a sole proprietorship. Which of the following will decrease as a result of this transaction? A) Assets B) Jason, Capital C) Liabilities D) Revenues 12. Montgomery Equipment Rental Company received $1,000 cash from a customer, the amount was owed to the business from the previous month. What is the effect of this transaction on the accounting equation?...
Effect of Transactions on Accounting Equation What is the effect of each of the following transactions on the three elements (assets, liabilities, and stockholders' equity) of the accounting equation? a. Invested cash in business in exchange for common stock. b. Paid for business expenses. c. Paid dividends. d. Purchased supplies on account. e. Received cash for services performed. th Decreases assets and decreases liabilities. Decreases assets and decreases stockholders' equity. Increases assets and increases stockholders' equity. Increases assets and increases...
ABC Company's owner withdrawals $2,000 cash. What is the effect on the accounting equation? A. Assets increase by $2,000 and equity increases by $2,000. B. Assets decrease by $2,000 and equity decreases by $2,000. C. Assets decrease by $2,000 and liabilities decrease by $2,000. D. The amount of total assets remains the same
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.
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
Indicate how the following transactions affect the accounting equation. a. The purchase of supplies on account. Assets decrease; stockholders' equity decreases b. The purchase of supplies for cash. Assets decrease; stockholders' equity decreases Payment of cash dividends to stockholders. Assets increase; liabilities increase d. Revenues received in cash. Assets increase; stockholders' equity increases Sale made on account. No effect e.
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.
QUESTION 9 One effect on the accounting equation when a firm borrows money is that a. stockholders' equity decreases. b. liabilities decrease. c. assets increase. O d. assets decrease.
11. Jason Repair Company incurred $1.500 as an advertising expense and promised to pay the advertising agency within 30 days. The company is a sole proprietorship. Which of the following will decrease as a result of this transaction? A) Assets B) Jason, Capital C) Liabilities D) Revenues 12. Montgomery Equipment Rental Company received $1,000 cash from a customer, the amount was owed to the business from the previous month. What is the effect of this transaction on the accounting equation?...
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