The following events were experienced by Solution Seekers, Inc. a publicly traded corporation. Identify the appropriate effect on the total assets of the business.

Group of answer choices

Received cash from customers on account.

[ Choose ] had no effect on the total assets of the business. decreased increased

Sold land for cash (the selling price was greater than the net book value on the balance sheet)

[ Choose ] had no effect on the total assets of the business. decreased increased

Borrowed cash from the bank.

[ Choose ] had no effect on the total assets of the business. decreased increased

Made cash purchase of land for a building site.

[ Choose ] had no effect on the total assets of the business. decreased increased

Received cash and issues stock to a shareholder.

[ Choose ] had no effect on the total assets of the business. decreased increased

Paid cash on accounts payable.

[ Choose ] had no effect on the total assets of the business. decreased increased

Purchased equipment and signed a promissory note in payment.

[ Choose ] had no effect on the total assets of the business. decreased increased

Purchased merchandise inventory on account

[ Choose ] had no effect on the total assets of the business. decreased increased

Paid a cash dividend.

[ Choose ] had no effect on the total assets of the business. decreased increased

Repaid all of the principal on an amount borrowed from the bank.

[ Choose ] had no effect on the total assets of the business. decreased increased