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Henry Company had a number of transactions in May 2014. In one of them, it purchased computers for office use for $30,000 from Dell on
Henry Company had a number of transactions in May 2014. In one of them, it purchased computers for office use for $30,000 from Dell on account. Which of the following accounts increased by $30,000 due to the transaction? Check all accounts that increased by $30,000. Cash, an asset Accounts Receivable, an asset Office Equipment, an asset Accounts Payable, a liabiity Common Stock, a component of stockholders' equity Revenue: (Comment: When revenues increase retained earnings increases) Expenses: (Comment: When expenses increase retained earnings decreases) Dividends: (Comment: When dividends increase retained earnings decreases) No accounts increased due to the transaction Question 2 0.5 pts Henry Company had a number of transactions in May 2014. In one of them, it issued common stock to stockholders after receiving $40,000 cash from its shareholders. Which of the following accounts decreased by $40,000 due to the transaction? Check all accounts that decreased by $40,000. Cash, an asset Accounts Receivable, an asset Office Equipment, an asset Accounts Payable, a liabiity Common Stock, a component of stockholders' equity Revenue: Comment: When revenues increase retained earnings increases) Expenses: (Comment: When expenses increase retained earnings decreases) Dividends: (Comment: When dividends increase retained earnings decreases) No accounts decreased due to the transaction
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