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NEED ANSWERS FOR BOTH THANKS During 2020, a company's assets rise $56,000 and its liabilities rise $38,000. If no dividend is paid and no further
NEED ANSWERS FOR BOTH THANKS
During 2020, a company's assets rise $56,000 and its liabilities rise $38,000. If no dividend is paid and no further capital is contributed, shareholders' equity would: Multiple Choice Increase by $56,000. Increase by $18,000. O decrease by $38,000 decrease by $94,000. Your company pays back $2 million on a loan it had received earlier from a bank. How does this transaction affect the accounting equation? Multiple Choice Assets remain unchanged, liabilities and shareholders' equity both increase by $2 million. Assets decrease by $2 million, liabilitles decrease by $2 million, shareholders' equity remains unchanged. Assets remain unchanged, liabilities increase by $2 million, contributed capital decreases by $2 million. Assets decrease by $2 million, liabilitles remain unchanged, contributed capital decreases by $2 millionStep by Step Solution
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