What is the effect of the following transaction on the basic accounting equation? A new owner contributed $12,000 cash to the business. Select one: a. Assets increase, liabilities increase b. Liabilities decrease. Owner's equity increases Liabilities increase, owner's equity decreases d. Assets increase, owner's equity increases No entry, no effect f. Assets decrease, liabilities decrease g. One asset increases, another asset decreases. h. Assets decrease, owner's equity decreases C. e.

What is the effect of the following transaction on the basic accounting equation? A new owner contributed $12,000 cash to the business. Select one: a. Assets increase, liabilities increase b. Liabilities decrease. Owner's equity increases c. Liabilities increase, owner's equity decreases d. Assets increase, owner's equity increases e. No entry, no effect f. Assets decrease, liabilities decrease g. One asset increases, another asset decreases h. Assets decrease, owner's equity decreases