How does the purchase of office equipment on account affect the accounting equation?
a. assets increase, and liabilities decrease
b. assets increase, and owner's equity increases
c. assets increase, and liabilities increase
d. liabilities increase, and owner, and owner's equity decreases
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How does the purchase of office equipment on account affect the accounting equation? a. assets increase, and liabilities decrease b. assets ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which security should sell at a higher price: A call option on a stock selling at $40, or a call option on another stock selling at $50 (all other relevant features of the stocks and options is assumed to be identical.) Explain.
Answers (1)
What army base is in Tennessee and Kentucky
Answers (2)
On January 31, 2021, B Corp. issued $600,000 face value, 12% bonds for $600,000 cash. The bonds are dated December 31, 2020, and mature on December 31, 2030. Interest will be paid semiannually on June 30 and December 31.
Answers (1)
Which government behavior is not involved in consumer-protection regulations?
Answers (1)
Jones Corporation purchased merchandise inventory with a 10%, 120-day note payable for $10,000. The company uses the perpetual inventory system.
Answers (1)
New Questions in Business
Globalization of the economy has been led primarily by transnational corporations. what do these corporations do?
Answers (1)
The Single European Act was put in place in an attempt to Multiple Choice convince Great Britain to remain in the EU. determine the viability of a common currency. expand the role of the EU into northern Africa.
Answers (1)
One reason to buy a home instead of rent a home is: AHomes have the potential to appreciate in value over time. BHomes have fewer maintenance costs. CBuying a home requires less money upfront. DBuying a home is a more flexible housing option.
Answers (1)
The following amounts are reported in the ledger of Mariah Company: Assets $ 78,000 Liabilities 41,000 Retained Earnings 9,000 What is the balance in the common stock account
Answers (1)
Which method of analysis does not classify variables as dependent or independent? A) regression analysis B) discriminant analysis C) cluster analysis D) analysis of variance
Answers (1)