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11 For 100.000 $ land is purchased with a $20, 000 down payment and the execution of an $80, 000 promissory note. How does this purchase affect the accounting equation? a) assets increase $100, 000; liabilities decrease $100, 000 b) assets increase $80, 000; liabilities decrease $20, 000 assets increase $80, 000; owner's equity increases $80, 000 assets increase $80, 000; liabilities increase $80, 000 Boş bırak

11 For 100.000 $ land is purchased with a $20, 000 down payment and the execution of an $80, 000 promissory note. How does this purchase affect the accounting equation? a) assets increase $100, 000; liabilities decrease $100, 000 b) assets increase $80, 000; liabilities decrease $20, 000 assets increase $80, 000; owner's equity increases $80, 000 assets increase $80, 000; liabilities increase $80, 000 Boş bırak

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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11 For 100.000 $ land is purchased with a $20, 000 down payment and the execution of an $80, 000 promissory note. How does this purchase affect the accounting equation? a) O assets increase $100, 000; liabilities decrease $100, 000 b) O assets increase $80, 000; liabilities decrease $20, 000 c)O assets increase $80, 000; owner's equity increases $80, 000 d) O assets increase $80, 000; liabilities increase $80, 000 O Boş bırak KÖnceki 11/20 Sonraki> Карat VSinav Bitir 9 Herhangi bir yey ara
Transcribed Image Text:11 For 100.000 $ land is purchased with a $20, 000 down payment and the execution of an $80, 000 promissory note. How does this purchase affect the accounting equation? a) O assets increase $100, 000; liabilities decrease $100, 000 b) O assets increase $80, 000; liabilities decrease $20, 000 c)O assets increase $80, 000; owner's equity increases $80, 000 d) O assets increase $80, 000; liabilities increase $80, 000 O Boş bırak KÖnceki 11/20 Sonraki> Карat VSinav Bitir 9 Herhangi bir yey ara
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