QUESTION 1 Par for the Course, Inc., issued $80,000 of promissory notes in exchange for land. Show the effect of this transaction on total Assets Liabilities and/or Shareholders' Equity and the account titles. If no effect, select "$0 No Effect". A. $80,000 Land Assets В. $80,000 Notes Payable Liabilities C. $0 No Effect Shareholders' Equity D. $(80,000) Notes Payable E. $(80,000) Cash F. $80,000 Stock G.c 3. $80,000 Cash H. s(80,000) Land I. $(80,000) Stock

QUESTION 1 Par for the Course, Inc., issued $80,000 of promissory notes in exchange for land. Show the effect of this transaction on total Assets Liabilities and/or Shareholders' Equity and the account titles. If no effect, select "$0 No Effect". A. $80,000 Land Assets В. $80,000 Notes Payable Liabilities C. $0 No Effect Shareholders' Equity D. $(80,000) Notes Payable E. $(80,000) Cash F. $80,000 Stock G.c 3. $80,000 Cash H. s(80,000) Land I. $(80,000) Stock

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Description: QUESTION 1Par for the Course, Inc., issued $80,000 of promissory notes in exchange for land. Show the effect of this transaction on total Assets,Liabilities and/or Shareholders' Equity and the account titles. If no effect, select "$0 No Effect".v As

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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