The following transaction has been recorded in the general journal: How will this transaction affect the company's financial statements after it is posted to the ledger accounts?
A)Decreases Total Liabilities
B)Increases Retained Earnings
C)Decreases Total Assets
D)Decreases Stockholders' Equity

Question

The following transaction has been recorded in the general journal:  How will this transaction affect the company's financial statements after it is posted to the ledger accounts?
A)Decreases Total Liabilities 
B)Increases Retained Earnings 
C)Decreases Total Assets 
D)Decreases Stockholders' Equity

Quizplus · Accepted Answer

The Answer of The following transaction has been recorded in the general journal:  How will this transaction affect the company's financial statements after it is posted to the ledger accounts?
A)Decreases Total Liabilities 
B)Increases Retained Earnings 
C)Decreases Total Assets 
D)Decreases Stockholders' Equity

The Following Transaction Has Been Recorded in the General Journal