s which account would be decreased by a credit? Accounts payable Cash C. Contributed capital D. Retained earnings The classified balance sheet for a company reported current assets of $1,623,850, total iabilities of $799,540, contributed capital of S1,000,000 and retained earnings of s130,260. The current ratio was 2.5 129. What is the total amount of current liabilities? A649,540 $824,310 C. $305,950 D. $799,540 130. A company purchased land costing $27,000 by making a 25 percent cash down a 90-day note for the balance. The entry to record this transaction would A Increase total assets. payment and signi B. Decrease total liabilities. C. Decrease contributed capital D. Increase retained earnings 131. Which of the following would decrease stockholders' equity? A. Stock issued for cash B. Repayment of notes payable. C. Land purchased for cash. D. Dividends paid to owners