Tyson Corporation borrowed cash from a bank. What of the following is true? A. its liabilities...
Tyson Corporation borrowed cash from a bank. What of the following is true?
| A. |
its liabilities will decreases but its assets will increase |
|
| B. |
its equity and revenues will both increase |
|
| C. |
its liabilities will increase but its assets will decrease |
|
| D. |
its liabilities and assets will both increase |
Homework Answers
Answer:
Option D is the correct answer. i.e its liabilities and assets will both increase
Explanation:
The journal entry for borrowed cash from a bank is:-
| Account Title | Debit | Credit |
| Cash (asset) | XXX | |
| Notes payable (liabilities) | XXX |
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Tyson Corporation borrowed cash from a bank. What of the
following is true?
A.
its liabilities...
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