ABC Company distributed $50,000 cash to its stockholders. In addition to a $50,000 decrease in the asset cash, how else is the expanded accounting equation impacted? Select one: $50,000 increase in another non-cash asset $50,000 decrease in common stock $50,000 increase in dividends $50,000 increase in expenses $50,000 decrease in liabilities $50,000 increase in revenue
ABC Company distributed $50,000 cash to its stockholders. In addition to a $50,000 decrease in the asset cash, how else is the expanded accounting equation impacted? Select one: $50,000 increase in another non-cash asset $50,000 decrease in common stock $50,000 increase in dividends $50,000 increase in expenses $50,000 decrease in liabilities $50,000 increase in revenue
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:ABC Company distributed $50,000 cash to its stockholders. In addition to a $50,000
decrease in the asset cash, how else is the expanded accounting equation impacted?
Select one:
$50,000 increase in another non-cash asset
$50,000 decrease in common stock
$50,000 increase in dividends
$50,000 increase in expenses
$50,000 decrease in liabilities
$50,000 increase in revenue
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