b. Assume that the seller owes $113,000 on a loan for the land. After receiving the $778,000 cash in (a), the seller pays the $113,000 owed. - the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select change from the dropdown and then enter a '0' in the amount box. Consider only the payoff of the loan, without considering the sale of the land Effect Amount 1. Total Assets 2. Total Liabilities 3. Stockholders' Equity nting equation?

b. Assume that the seller owes $113,000 on a loan for the land. After receiving the $778,000 cash in (a), the seller pays the $113,000 owed. - the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select change from the dropdown and then enter a '0' in the amount box. Consider only the payoff of the loan, without considering the sale of the land Effect Amount 1. Total Assets 2. Total Liabilities 3. Stockholders' Equity nting equation?

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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