33. When a portion of prepaid rent expires, what will be the effect on the balance sheet equation? A) B) This transaction affects only the income statement, so there will be no effect on the balance sheet. There will be no overall effect on total assets, because two different asset accounts will change by the exact dollar amount, with one increasing and the other decreasing. Total assets and total liabilities will go down by the exact same dollar amount. Total assets and total stockholders' equity will go down by the exact same dollar amount. Without knowing the dollar amount ofthe transaction, the effect on the balance sheet equation cannot be determined