Question
A transaction caused a $5,000 increase in both assets and total owners equity. This transaction could have been: HINT: A. Repayment of a $5,000 bank
A transaction caused a $5,000 increase in both assets and total owners equity. This transaction could have been:
HINT:
| A. | Repayment of a $5,000 bank loan | |
| B. | Investment of $5,000 cash in the business by selling additional shares of common stock | |
| C. | Purchase of office equipment for $12,000, paying $7,000 cash and issuing a note payable for the balance | |
| D. | Purchase of office equipment of $5,000 cash | |
| E. | None of the above |
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
