Question
Yaro Company recorded journal entries for three transactions: the issuance of common stock for $160,000 cash, the payment of $52,000 on accounts payable, and the
Yaro Company recorded journal entries for three transactions: the issuance of common stock for $160,000 cash, the payment of $52,000 on accounts payable, and the payment of salaries expense of $84,000. What net effect do these entries have on total assets?
| Increase of $160,000. | ||
| Increase of $108,000. | ||
| Increase of $76,000. | ||
| Increase of $24,000 |
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Principles Of Cost Accounting
Authors: Robert E. Schmiedicke, Charles F. Nagy, Edward J. Vanderback, E.J. Vanderbeck C.F. Nagy
9th Edition
0538812915, 978-0538812917
