The cash payment of an account payable will have the following impact on the accounting equation.   Group of answer choices Decrease an asset and decrease a liability Increase one asset and decrease another asset Increase an asset and increase a liability Decrease an asset and decrease stockholders’ equity

Q: in the accounting records? a. Equipment is purchased on account. b. An employee is terminated. c. A…

A: Internal users of financial statements are those users who are managers, employees and other…

Q: How would the issuance of common stock for cash affect the accounting equation?a. Increase assets…

A:

Q: Which of the following statements is incorrect ? Select one: a. When an asset (other than cash)…

A: The accounting equation represents the effect of each accounting transaction on asset, liabilities…

Q: When the payment is made to creditors, it would result in which among the following? a. decrease…

A: Creditors are the persons to whom the entity has to pay some due money.

Q: b. Give an example for each of the following types of transactions for the accounting equation: i.…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Nutrition Inc. bought land by making a cash down payment and borrowing (mortgage) the remaining…

A: Cash flow from investing activities: It is a section of the cash flow statement that shows the cash…

Q: When cash is paid for expenses, the business has less cash; therefore, the asset account Cash is…

A: Cash is used by business for running its day to day activities. The business receives cash when it…

Q: An investment of cash by stockholders into the business willa. decrease total assets.b. increase…

A: When company requires funds, it can obtain funds by issuing debentures or by borrowing from banks…

Q: The following table summarizes the rules of debit and credit. Indicate whether the proper answer is…

A: Normal balance of accounts describes the rules of debit credit in a way, like if the normal balance…

Q: Earning revenue a.increases one asset, decreases another asset b.decreases assets, increases…

A: Earning Revenue will result in increase in Assets and increase in Shareholder's Equity . For eg Cash…

Q: Give an example of business transactions that would:a. Cause one asset to increase and another asset…

A: a.

Q: When a company purchases supplies on account Multiple Choice O O O Liabilities increase Total assets…

A: Supplies are the goods that can be bought by entity either on account or cash. If these are bought…

Q: Transactions a, c, and e did not result in an expense. Match each transaction (a, c, and e) with one…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Which one of the following will decrease the cash flow from assets, all else equal? Select one: O a.…

A: Cash flows refer to an activity in which there is a movement of money in the business and out of…

Q: A proprietor makes a cash withdrawal from the proprietorship. How does this affect the accounting…

A: sole proprietorship draws money from the business profit, since he is not paid regularly ,He…

Q: 1. Which statement about accrual basis of accounting is incorrect? A. Accrual accounting adheres to…

A: The accrual basis of accounting records the transaction when the transactions occurred, not at the…

Q: Owner's equity can be increased through a.expenses exceeding revenues. b.investments by the owner.…

A: Stock holders equity: Common stock is one of the parts in the stockholders’ equity. The common stock…

Q: The collection of cash from customers to which they owe to the entity from its past rendering of…

A: Lets understand the basics. When entity sale the goods on the credit then the buyer known as the…

Q: Which statement is incorrect? Under cash basis of accounting,

A: Cash basis of accounting:   It is a method of accounting adopted by companies where the transactions…

Q: A balance sheet is also known as a/an:   Question 3 options:   Statement of financial position…

A: A balance sheet is also known as a statement of financial position considered as one of the most…

Q: A purchase of an asset on account a. decreases expenses. b. decreases owner's equity. c. increases…

A: Accounting Equation :— It is the relationship between assets, liabilities and owner's equity.…

Q: The effects of paying salaries for the current period are to:a. increase assets and increase stock-…

A: Salary is an expense for a company and an obligation due towards the employees working in that…

Q: Which of the following transactions violates the balance sheet equation? (check all that apply)…

A: Balance sheet is a financial statement which presents the balances of assets, liabilities and…

Q: Which of the following causes the accounting equation not to balance? a. Increase assets; increase…

A:

Q: Performing services for cash will have the following effects on the components of the basic…

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: Jasper Corp. collects payment on an accounts receivable balance. This transaction Select one: O a.…

A: Increase in assets should be debited and decrease in assets should be credited.

Q: Which of the following is the correct ending to the next sentence? When an owner makes a withdrawal…

A: Any withdrawal for personal use affects drawing account. Drawing account has a normal debit balance.…

Q: Which of the following is not an asset account? cash O prepaid expense O accrued expense accrued…

A: The asset will be having a debit balance and liabilities will be having a credit balance. Incomes…

Q: a) Recording the usage of supplies involves an increase in liabilities and a decrease i e b) The…

A: The answer is stated below:               Note: Answering the first three subparts as there are…

Q: Which of the following would not be reflected in the statement of cash flows? A.Purchase of…

A: Statement of Cash Flows includes all transactions of cash inflows and cash outflows. These…

Q: An accounting trasaction simultaneously decreases assets and equity.This transaction is explained by…

A: Lets understand the basics. All the accounting transaction are having dual impact. In other words…

Q: The effect of payment made to creditors of the business would be a. Increase an asset and increase a…

A: Creditors are decreased. Cash is decreased.

Q: The effect of payment made to creditors of the business would be O a. Decrease an asset and decrease…

A: An Payment of any liability will lead to decrease in asset and decrease in liability

Q: If expenses are paid in cash, then Select one: a. assets will decrease b. liabilities will decrease…

A: Cash basis accounting: In cash basis accounting , revenue are recognized when payment is received…

Q: When completing the spreadsheet to prepare the statement of cash flows, a decrease in retained…

A: Statement of cash flows is one of the financial statement of business, which shows all cash inflows…

Q: working capital is defined as a. total current assets minus total current liabilities b.…

A: For every day business and routine activities of business, business needs working capital. It means…

Q: Under the allowance method of uncollectible accounts, the entry to write off a customer’s account…

A: As per the allowance method, Bad debt expenses are set off with allowance for doubtful accounts and…

Q: When prepaid rent is recognized as an expense, which of the following is true? Select one: a.…

A: Deferred expenses: Advance payment for future expenses is called as prepaid expenses. These prepaid…

Q: b. Show the effect of each transaction on the elements of the financial statements, using a…

A: Under Horizontal Statement Model, Transactions to be classified according to the accounting…

Q: Blecker Corp. made cash sales to customers. What effect does this transaction have on the accounting…

A: Accounting equation: Total assets = Liabilities + Equity

Q: Owner's equity can be increased through _____. a. withdrawals by the owner b. purchase of assets by…

A: Solution: Withdrawl by owner decrease the owner's equity Purchase of assets by cash do not affect…

Q: When an account payable is paid with cash, the owner's equity in the business decreases. Please…

A: Accounting equation is the equation in which total assets are equal to the total of liabilities and…