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i need help on number 10 B) An increase in cash and an increase in equity C) A decrease in cash and an decrease in
i need help on number 10
B) An increase in cash and an increase in equity C) A decrease in cash and an decrease in liabilities D) An increase in fees earned and an increase in equity E) A increase in cash and a increase in liabilities 20.10 Keith Farfalle withdrew $5,000 from his pet store, KM's Pets. Recording the withdrawal will result in which of the following changes to the components of the accounting equation? A) Increase in an asset and increase a liability B) Decrease in an asset and decrease a liability C) Increase in an asset and increase in equity D) Decrease in an asset and decrease in equity E) Increase in one asset and decrease in another asset 11. 11 Assets total $100,000 and liabilities total $20,000. What is the equity of the business? A) $80 B) $800 C) $8,000 D) $80,000 E) None of the above 12. 12. If during the accounting period the assets decreased by $10,000, and equity increased by $2,000, then how did liabilities change? A) Increased by $12,000 B) Increased by $8,000 C) Decreased by $12,000 D) Decreased by $8,000 E) Decreased by $6,000 op DO B 6 7 8 2 C Step by Step Solution
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