The settlement of an accounts payable by paying cash
hi can you help me with the below question please? Thank you
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Given below is a list of transactions:
1) The settlement of an accounts payable by paying cash
2)The settlement of an accounts payable by issuing a notes payable
3) The purchase of equipment on credit
4)An adjusting entry to record accrued salary
5)The collection of interest previously accrued
6) An adjusting entry to recognize periodic depreciation
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Match the effect of each transaction above with one of the effects given below
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a) increase in assets, increase in liabilities
b) Increased in assets, decrease in liabilities
c) increase in assets, decrease in assets
d) decrease in assets, decrease in liabilities
e)decrease in liabilities, increase in liabilities
f) increase in liabilities, decrease in owners' equity
g)decrease in liabilities, increase in owners' equity
h) decrease in assets, increase in owners' equity
i) decrease in assets, decrease in owners' equity
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last: which of the effects in the list given above is never possible? why?
Answers
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Posted 22 May 2017 04:05 AM
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