MATCHING TYPE:Harry Potter started a Food business to be known as "Harry Delights". He performed the transactionsbelow during the first month of operations: Match the transactions to its impact on the accountingequation of Harry's Delights.Choices:(a) an increase in assets and a decrease in assets.(b) an increase in assets and an increase in stockholders' equity.(c) an increase in assets and an increase in liabilities.(d) a decrease in assets and a decrease in stockholders' equity.(e) a decrease in assets and a decrease in liabilities.(f) an increase in liabilities and a decrease in stockholders' equity.(g) an increase in stockholders' equity and a decrease in liabilities.1. Harry Potter paid P150 cash for telephone bill.2. Harry Potter invested a capital of P15,000 into his business.3. Sold food products for P1,000 cash, the cost of producing were P700.

Accounting equation is the formula to be satisfied when recording an accounting transaction. The…

Answered: Harry Potter started a Food business to…

Business

Accounting

Harry Potter started a Food business to be known as "Harry Delights".

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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