Question
Davis's Cakes-in-a-Jar has assets of $30,000, liabilities of $10,000, and owners' equity of $20,000. If the company buys an oven costing $3,000 on account, the
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Davis's Cakes-in-a-Jar has assets of $30,000, liabilities of $10,000, and owners' equity of $20,000. If the company buys an oven costing $3,000 on account, the accounting equation will change to:
$27,000 = $8,000 +$9,000
$27,000 = $13,000 + $14,000
$33,000 = $16,500 + $16,500
$33,000 = $13,000 + $20,000
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Alpine Cupcakes Audit Case With Data Analytics
Authors: Carol Callaway Dee, Mary P.Mindak
2nd Edition
1618533231, 978-1618533234
