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Digital Gamz Corp. purchases a building for $4,000,000. The company pays with cash of $3,000,000 and a Note Payable of $1,000,000. Which of the following
Digital Gamz Corp. purchases a building for $4,000,000. The company pays with cash of $3,000,000 and a Note Payable of $1,000,000. Which of the following correctly explains why the accounting equation remains in balance? A. The total of the increase in assets was equal to the increase in stockholders' equity O B. The net increase in assets was equal to the net increase in liabilities C. Assets both increased and decreased and the net increase was equal to the increase in SE D. Assets both increased and decreased and the net effect was zero
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