Multiple Choice
If a company purchases equipment for $65,000 by issuing a note payable:
A) Total assets will increase by $65,000.
B) Total assets will decrease by $65,000.
C) Total assets will remain the same.
D) Total owners' equity will decrease.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q12: If Capital Stock is $260,000,what is the
Q13: If Capital Stock is $320,000,total assets of
Q14: A transaction caused an increase in both
Q15: Which of the following transactions would cause
Q16: The owner of a sole proprietorship is
Q18: [The following information applies to the questions
Q19: From the following accounts and amounts prepare
Q20: At the end of the current year,the
Q21: If Cash at December 31,2018,is $66,000,total assets
Q22: The balance sheet item that represents the