ABC Company bought some computers for $10,000 and charged them. What happens to the accounting equation? Group of answer choices Assets and liabilities increase by $10,000. Assets do not change. Liabilities increase by $10,000 and owners' equity decreases by $10,000. Assets and owners' equity increase by $10,000.
ABC Company bought some computers for $10,000 and charged them. What happens to the accounting equation? Group of answer choices Assets and liabilities increase by $10,000. Assets do not change. Liabilities increase by $10,000 and owners' equity decreases by $10,000. Assets and owners' equity increase by $10,000.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter2: Basic Accounting Systems: Cash Basis
Section: Chapter Questions
Problem 2SEQ: The receipt of $8,000 cash for fees earned was recorded by Langley Consulting as an increase in cash...
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Question
ABC Company bought some computers for $10,000 and charged them. What happens to the
Group of answer choices
Assets and liabilities increase by $10,000.
Assets do not change.
Liabilities increase by $10,000 and owners' equity decreases by $10,000.
Assets and owners' equity increase by $10,000.
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