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1. Paid 1,000 cash to his payables. 2. Harry potter paid 150 cash for telephone bill. 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. Paid 1,000 cash to his payables. 2. Harry potter paid 150 cash for telephone bill. 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)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter2: Basic Accounting Systems: Cash Basis
Section: Chapter Questions
Problem 2SEQ: The receipt of $8,000 cash for fees earned was recorded by Langley Consulting as an increase in cash...
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1. Paid 1,000 cash to his payables. 2. Harry potter paid 150 cash for telephone bill. 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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