Any increase in an asset may be offset by: Multiple Choice A. a corresponding decrease in...
Any increase in an asset may be offset by:
Multiple Choice
A. a corresponding decrease in owner’ equity.
B. an increase in another asset account.
C. a corresponding decrease in a liability.
D. a decrease in some other asset account.
Homework Answers
D. a decrease in some other asset account.
For instance Cash purchase of fixed asset for $10,000 will be offset by Decrease in cash with $10,000
Add Answer to:
Any increase in an asset may be offset by:
Multiple Choice
A. a corresponding decrease in...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
For each of the following items give an example of a business transaction that has the described effect on the accounting equation: increase an asset and increase a liability increase one asset and decrease another asset decrease an asset and decrease
For each of the following items give an example of a business transaction that has the described effect on the accounting equation:increase an asset and increase a liabilityincrease one asset and decrease another assetdecrease an asset and decrease owners equitydecrease an asset and decrease a liabilityincrease an asset and increase owners equity
Q1-5 Multiple Choice Questions (20 points) Circle the right answer 1) Which of the following is...
Q1-5
Multiple Choice Questions (20 points) Circle the right answer 1) Which of the following is the CORRECT accounting equation? A) Assets + Liabilities - Owners' equity B) Assets - Liabilities + Owners' equity C) Assets + Revenue - Owners' equity D) Assets + Revenue Liabilities + Expenses 2) Owner's equity is $150,000 and total liabilities are $90,000. Total assets would be: A) $300.000 B) S180,000. C) $60,000. D) $240,000 150, 900 90,000 3) A business settles a liability by...
MULTIPLE CHOICE. Choose the one alternative that best completu question. (5 points each) 1) If a...
MULTIPLE CHOICE. Choose the one alternative that best completu question. (5 points each) 1) If a company receives $12,000 cash from its sole stockholder to establish a corporation, the effect on the accounting equation would be: A) Assets decrease $12,000 and equity decreases $12,000. B) Assets increase $12,000 and liabilities decrease $12,000. C) Liabilities increase $12,000 and equity decreases $12,000. D) Assets increase $12,000 and liabilities increase $12,000. E) Assets increase $12,000 and equity increases $12,000. 2) If a company...
answer please MC1q4 discussion, 1 point, due 2/3 Refer to Chapter / multiple-choice question 4 below....
answer please
MC1q4 discussion, 1 point, due 2/3 Refer to Chapter / multiple-choice question 4 below. (4) According to the FASB's conceptual framework, an entity's revenue may result from a(n) A. Decrease in an asset from primary operations. B. Increase in an asset from incidental transactions. C. Increase in a liability from incidental transactions. D. Decrease in a liability from primary operations. The correct answer is D. A. A decrease in an asset from primary operations results in an expense....
Which of the following is a true statement? Multiple Choice Expenses increase owners’ equity and decrease...
Which of the following is a true statement? Multiple Choice Expenses increase owners’ equity and decrease liabilities. Revenue decreases owners’ equity and expenses increase owners’ equity. Revenue increases owners’ equity and expenses decrease owners’ equity. Revenue decreases owners’ equity and increases liabilities. Which of the following statements is not true regarding the adoption of ASC Topic 606 guidance for revenue recognition? Multiple Choice When using the cumulative approach, the prior three years of financial statements need to be restated. Under...
Which one of these will increase a company's aftertax cost of debt? Multiple Choice A decrease...
Which one of these will increase a company's aftertax cost of debt? Multiple Choice A decrease in the company's debt-equity ratio o A decrease in the company's tax rate o An increase in the credit rating of the company's bonds o An increase in the company's beta o o c ) A decrease in the market rate of interest
Which one of these will increase a company's aftertax cost of debt? Multiple Choice A decrease...
Which one of these will increase a company's aftertax cost of debt? Multiple Choice A decrease in the company's debt-equity ratio o A decrease in the company's tax rate o An increase in the credit rating of the company's bonds o An increase in the company's beta o o c ) A decrease in the market rate of interest
analyze the transactions in terms of increase or decrease: 1. increase cash (asset) $120000, increase office...
analyze the transactions in terms of increase or decrease: 1. increase cash (asset) $120000, increase office equipment ( asset) 10,000 ; increase zhang capital equity $130000. 2. increase building (asset) $240000; decrease cash (asset) $5000, increase in note payable (liability) $ 190000.
8. BONUS: Jerry Stevens is being trained in managerial accounting by his boss Sarah. For practice,...
8. BONUS: Jerry Stevens is being trained in managerial accounting by his boss Sarah. For practice, Sarah has given Jerry nine accounting transactions that commonly occur in the foodservice industry. Sarah has asked Jerry to match the nine accounting transactions with the impact they will have on one more of the three components of the accounting equation. Help Jerry complete his work by placing the letter identifying the transaction in the "transaction" cell associated with the proper transaction's impact cell....
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
Q1-5
Multiple Choice Questions (20 points) Circle the right answer 1) Which of the following is the CORRECT accounting equation? A) Assets + Liabilities - Owners' equity B) Assets - Liabilities + Owners' equity C) Assets + Revenue - Owners' equity D) Assets + Revenue Liabilities + Expenses 2) Owner's equity is $150,000 and total liabilities are $90,000. Total assets would be: A) $300.000 B) S180,000. C) $60,000. D) $240,000 150, 900 90,000 3) A business settles a liability by...
MULTIPLE CHOICE. Choose the one alternative that best completu question. (5 points each) 1) If a company receives $12,000 cash from its sole stockholder to establish a corporation, the effect on the accounting equation would be: A) Assets decrease $12,000 and equity decreases $12,000. B) Assets increase $12,000 and liabilities decrease $12,000. C) Liabilities increase $12,000 and equity decreases $12,000. D) Assets increase $12,000 and liabilities increase $12,000. E) Assets increase $12,000 and equity increases $12,000. 2) If a company...
answer please
MC1q4 discussion, 1 point, due 2/3 Refer to Chapter / multiple-choice question 4 below. (4) According to the FASB's conceptual framework, an entity's revenue may result from a(n) A. Decrease in an asset from primary operations. B. Increase in an asset from incidental transactions. C. Increase in a liability from incidental transactions. D. Decrease in a liability from primary operations. The correct answer is D. A. A decrease in an asset from primary operations results in an expense....
Which one of these will increase a company's aftertax cost of debt? Multiple Choice A decrease in the company's debt-equity ratio o A decrease in the company's tax rate o An increase in the credit rating of the company's bonds o An increase in the company's beta o o c ) A decrease in the market rate of interest
Which one of these will increase a company's aftertax cost of debt? Multiple Choice A decrease in the company's debt-equity ratio o A decrease in the company's tax rate o An increase in the credit rating of the company's bonds o An increase in the company's beta o o c ) A decrease in the market rate of interest
8. BONUS: Jerry Stevens is being trained in managerial accounting by his boss Sarah. For practice, Sarah has given Jerry nine accounting transactions that commonly occur in the foodservice industry. Sarah has asked Jerry to match the nine accounting transactions with the impact they will have on one more of the three components of the accounting equation. Help Jerry complete his work by placing the letter identifying the transaction in the "transaction" cell associated with the proper transaction's impact cell....
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