Ronald opens his business by investing $12,000. How does this affect the accounting equation?
A) Increase in Assets; increase in Stockholders' Equity.
B) Increase in Liabilities; increase in Stockholders' Equity.
C) Decrease in Assets; increase in Stockholders' Equity.
D) Increase in Assets; decrease in Stockholders' Equity.
Correct Answer:
Verified
Q99: Purchasing supplies on account will increase both
Q100: Most businesses use:
A)cash accounting.
B)accrual accounting.
C)cash and accrual
Q101: In the expanded accounting equation, revenues minus
Q102: Crispy's is famous for their cupcakes. Crispy'sTotal
Q103: A company has Liabilities of $23,700 and
Q105: A company has $129,000 in Assets and
Q106: A net loss will:
A)decrease Retained Earnings.
B)increase Retained
Q107: Amounts owed to a company by its
Q108: If Total Assets remain the same and
Q109: Payment of expenses would have which of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents