The following journal entry affected the accounting equation by:
A)increasing assets and increasing liabilities
B)decreasing liabilities and increasing owners' equity
C)increasing assets and increasing owners' equity
D)decreasing assets and decreasing owners' equity

Question

The following journal entry affected the accounting equation by: 
A)increasing assets and increasing liabilities 
B)decreasing liabilities and increasing owners' equity 
C)increasing assets and increasing owners' equity 
D)decreasing assets and decreasing owners' equity

Quizplus · Accepted Answer

The Answer of The following journal entry affected the accounting equation by: 
A)increasing assets and increasing liabilities 
B)decreasing liabilities and increasing owners' equity 
C)increasing assets and increasing owners' equity 
D)decreasing assets and decreasing owners' equity

The Following Journal Entry Affected the Accounting Equation By