1. Collected 800 cash from his receivables. 2. Purchased ingredients for 2,000 on credit. Choices: a.) An increase in assets and a decrease in assets. b.) An increase in assets and an increase in stockholders equity. c.) An increase in assets and an increase in liabilities. d.) A decrease in assets and a decrease in stockholders equity. e.) A decrease in assets and a decrease in liabilities. f.) An increase in liabilities and a decrease in stockholders equity. g.) An increase in stockholders equity and a decrease in liabilities.
1. Collected 800 cash from his receivables. 2. Purchased ingredients for 2,000 on credit. Choices: a.) An increase in assets and a decrease in assets. b.) An increase in assets and an increase in stockholders equity. c.) An increase in assets and an increase in liabilities. d.) A decrease in assets and a decrease in stockholders equity. e.) A decrease in assets and a decrease in liabilities. f.) An increase in liabilities and a decrease in stockholders equity. g.) An increase in stockholders equity and a decrease in liabilities.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 2SEQ: On January 24, 20Y8, Niche Consulting collected $5,700 it had hilled its clients for services...
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1. Collected 800 cash from his receivables.
2. Purchased ingredients for 2,000 on credit.
Choices:
a.) An increase in assets and a decrease in assets.
b.) An increase in assets and an increase in stockholders equity .
c.) An increase in assets and an increase in liabilities.
d.) A decrease in assets and a decrease in stockholders equity.
e.) A decrease in assets and a decrease in liabilities.
f.) An increase in liabilities and a decrease in stockholders equity.
g.) An increase in stockholders equity and a decrease in liabilities.
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