Bendada deposited $25,000 in a bank account in the name of the business. Which of the following is true in regards to the fundamental accounting equation?
A) Assets increase by $25,000.
B) Liabilities increase by $25,000.
C) Assets decrease by $25,000.
D) Owner's Equity decreases by $25,000.
E) Liabilities decrease by $25,000.
Correct Answer:
Verified
Q19: The purchase of an asset for cash
Q20: The owner's right, claim, or financial interest
Q21: Professional Fees is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q22: Otto Company paid a credit on account,
Q23: Newton Company bought equipment, paying cash, $25,000.
Q25: Newton Company purchases equipment on account. What
Q26: Accounts Payable is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q27: The amounts that the business entity owes
Q28: Jerry Frost invested equipment in his business
Q29: An example of a liability is
A) Cash.
B)
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