If a company purchased equipment for cash, the accounting equation would show a(n)
A) Increase in assets and decrease in assets
B) Decrease in liabilities and increase in assets
C) Increase in liabilities and increase in assets
D) Decrease in liabilities and decrease in assets
Correct Answer:
Verified
Q14: The basic accounting equation
A) Is out of
Q15: Which of the following types of entries
Q16: An entry to the left side of
Q17: The purchase of supplies on account
A) Increases
Q18: If a company paid off a loan,
Q20: Borrowing money from a bank
A) Increases assets
Q21: Which of the following accounts is decreased
Q22: When accounts receivable are collected,
A) Total assets
Q23: When a note payable is given to
Q24: The supplies expense account
A) Normally has a
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