QUESTION 36 Which of the following would affect owners' equity? O a. Purchased land for $5,000 cash. O b. Borrowed $1,500 from Citi Bank and signed a 3 month note. O c. Purchased supplies on Account (payment due in 30 days) from Office Depot. O d. Received cash from owners and issued common stock to them.
QUESTION 36 Which of the following would affect owners' equity? O a. Purchased land for $5,000 cash. O b. Borrowed $1,500 from Citi Bank and signed a 3 month note. O c. Purchased supplies on Account (payment due in 30 days) from Office Depot. O d. Received cash from owners and issued common stock to them.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Question 36

Transcribed Image Text:JUring the month of April, ABC Corporation has reve
Common stock for $8,000. What is ABC Corporation's ending balance of Ret-
lations.)
QUESTION 36
Which of the following would affect owners' equity?
O a. Purchased land for $5,000 cash.
O b. Borrowed $1,500 from Citi Bank and signed a 3 month note.
O c. Purchased supplies on Account (payment due in 30 days) from Office Depot.
O d. Received cash from owners and issued common stock to them.
QUESTION 37
Ending retained earnings for a period is equal to:
O a. Beginning retained earnings - Net income- Dividends
Duginning retained earnings + Net income + Dividends
Dividends
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