The purchase of store equipment for cash reduces assets and owner's equity by equal amounts.
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Q14: When a company borrows money from the
Q17: Both owner investments and revenues increase total
Q19: The payment of rent expense reduces owner's
Q20: Revenues result from the delivery of goods,
Q21: If Beringer Company's liabilities are $18,000 and
Q22: Owners' claims to total business assets take
Q22: Which of the following accounts is not
Q23: The basic accounting equation is in balance
Q23: If assets are $20,000 and owner's equity
Q37: The basic accounting equation states that Assets
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