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What are the correct answers for the following? What is the effect on the balance sheet if a company purchases equipmient using cash? No effect
What are the correct answers for the following?
What is the effect on the balance sheet if a company purchases equipmient using cash? No effect on total assets; Decrease total iabilities: ncrease total stockholders equity Decrease total assets; No effect on total liabilities: Increase total stockholders' equity Increase total assets; Increase total liabilities: Increase total stockholders' equity No effect on total assets; No effect on total liabilities: No effect on total stockholders' equity Mauricio invested $30,000 in Pizza Aroma in exchange for its stock. As a result of this, Pizza Aroma now has: an asset (investment retained earnings net income. common stock. a liability. If a company hires an auditor to check that the work done by others within the company is supported by documentation, it is doing so under the principle of control activities referred to as: document procedures. segregation of duties. restrict access. independent verification. Which account would be decreased with a credit? Sales Accounts Receivable Notes Payable Common Stock
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