During the month you purchased $12,000 of supplies on credit and $19,000 of equipment for cash. When you prepare a balancesheet, assets are $24,000 more than liabilities plus shareholders' equity.Multiple ChoiceYou may have neglected to post the chenge in accounts payable.cesYou may have posted the increase in accounts payable as a debit rather than a credit.You may have posted the increase in supplies as a credit rather than a debitAll would heve resulted in the $24,000 error.

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During the month you purchased $12.000 of supplies on credit and $19,000 of equipment for cash. When you prepare a balanc sheet, assets are $24,000 more than liabilities plus shareholders' equity. Multiple Choice You may have neglected to post the change in accounts payeble. You may have posted the increese in accounts payable as a debit rather than a credit You may have posted the increase in supplies as a credit rather than a debit All would have resulted in the $24.000 error

During the month you purchased $12.000 of supplies on credit and $19,000 of equipment for cash. When you prepare a balanc sheet, assets are $24,000 more than liabilities plus shareholders' equity. Multiple Choice You may have neglected to post the change in accounts payeble. You may have posted the increese in accounts payable as a debit rather than a credit You may have posted the increase in supplies as a credit rather than a debit All would have resulted in the $24.000 error

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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