Which of the following cash transactions would not affect total assets?
A)Borrowing cash from a bank
B)Issuing common stock for cash
C)Purchasing land for cash
D)Providing services for cash

Question

Quizplus · Accepted Answer

Purchasing land for cash is an asset exchange transaction that does not affect total assets.Issuing stock to owners is an asset source transaction that increases assets.Borrowing cash from a bank is an asset source transaction that increases assets.Expense transactions do not increase assets.

Which of the Following Cash Transactions Would Not Affect Total