Answered: Purchasing a laptop computer on account…

Purchasing a laptop computer on account willa. have no effect on stockholders’ equity.b. increase total liabilities.c. increase total assets.d. All of the listed choices are correct.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 3QY: Which of the following accounts would increase owners equity? a. Cash b. Accounts Payable c....

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Question

Purchasing a laptop computer on account will
a. have no effect on stockholders’ equity.
b. increase total liabilities.
c. increase total assets.
d. All of the listed choices are correct.

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