Homework Answers
The answer is no change in total assets
The reason here is
One asset i.e equipment is increasing by the amount $8,000 and the
Other asset i.e cash is decreasing by the same amount i.e $8,000
Hence there is no change in total assets
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A small company near loop 410 pays $8,000 cash for some new equipment. The effect is...
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If a company uses $1,300 of its cash for Equipment, the effect on the accounting equation...
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Sheridan Company purchases $1380 of equipment from Monty Inc. for cash. The effect on the components...
Sheridan Company purchases $1380 of equipment from Monty Inc. for cash. The effect on the components of the basic accounting equation of Sheridan Company is an increase in assets and a decrease in liabilities. no change in total assets. a decrease in assets and liabilities. an increase in assets and liabilities. Save for Later EL Attempts: 0 of 1 used Submit Answer 3,3 Up next BO # N 2 % 5 3 4 6 Q W E tab R
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If a company purchases equipment costing $5,100 on credit, the effect on the accounting equation would...
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QUESTION 8 Jackson Inc. purchases land for cash. What effect does this transaction have on the...
QUESTION 8 Jackson Inc. purchases land for cash. What effect does this transaction have on the following accounts: o Increase in Cash and decrease in Land o Decrease in Cash and decrease in Land o Increase in Cash and increase in Land Decrease in cash and increase in Land QUESTION 9 Jackson Inc. received $5,000 cash for fees earned. Which one of the following statements is FALSE? Total assets remain unchanged. Net income will increase. Retained earnings will increase. Stockholder's...
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.
Sheridan Company purchases $1380 of equipment from Monty Inc. for cash. The effect on the components of the basic accounting equation of Sheridan Company is an increase in assets and a decrease in liabilities. no change in total assets. a decrease in assets and liabilities. an increase in assets and liabilities. Save for Later EL Attempts: 0 of 1 used Submit Answer 3,3 Up next BO # N 2 % 5 3 4 6 Q W E tab R
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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.
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
QUESTION 8 Jackson Inc. purchases land for cash. What effect does this transaction have on the following accounts: o Increase in Cash and decrease in Land o Decrease in Cash and decrease in Land o Increase in Cash and increase in Land Decrease in cash and increase in Land QUESTION 9 Jackson Inc. received $5,000 cash for fees earned. Which one of the following statements is FALSE? Total assets remain unchanged. Net income will increase. Retained earnings will increase. Stockholder's...
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