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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381 Exercise 69
The answers to these questions appear on page 85.Note: In order to review as many chapter concepts as possible, some self-test questions include more than one correct answer.n these cases, you should indicate all of the correct answers.
Waterworld Boat Shop purchased a truck for $12,000, making a down payment of $5,000 cash and signing a $7,000 note payable due in 60 days.s a result of this transaction:
a.otal assets increased by $12,000.
b.otal liabilities increased by $7,000.
c.rom the viewpoint of a short-term creditor, this transaction makes the business more liquid.
d.his transaction had no immediate effect on the owners' equity in the business.
Waterworld Boat Shop purchased a truck for $12,000, making a down payment of $5,000 cash and signing a $7,000 note payable due in 60 days.s a result of this transaction:
a.otal assets increased by $12,000.
b.otal liabilities increased by $7,000.
c.rom the viewpoint of a short-term creditor, this transaction makes the business more liquid.
d.his transaction had no immediate effect on the owners' equity in the business.
Explanation
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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
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