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The issue of Bonds Payable results in: a. Total Assets Increased Total Equity Increased b. Total Assets Decreased Total Equity Decreased C. Total Assets Unchanged Total Equity Increased d. Total Assets Total Equity Unchanged Unchanged e. Total Assets Total Equity Increased Unchanged The entry to record the providing of services (cash to be collected later) would include: a. Debit to Assets & Credit to Liabilities b. Debit to Liabilities & Credit to Assets C. Debit to Assets & Credit to Revenue d. Debit to Owners' Equity & Credit to Revenue e. Debit to Revenue & Credit to Asset

The issue of Bonds Payable results in: a. Total Assets Increased Total Equity Increased b. Total Assets Decreased Total Equity Decreased C. Total Assets Unchanged Total Equity Increased d. Total Assets Total Equity Unchanged Unchanged e. Total Assets Total Equity Increased Unchanged The entry to record the providing of services (cash to be collected later) would include: a. Debit to Assets & Credit to Liabilities b. Debit to Liabilities & Credit to Assets C. Debit to Assets & Credit to Revenue d. Debit to Owners' Equity & Credit to Revenue e. Debit to Revenue & Credit to Asset

FINANCIAL ACCOUNTING
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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The issue of Bonds Payable results in: a. Total Assets Increased Total Equity Increased b. Total Assets Decreased Total Equity Decreased C. Total Assets Unchanged Total Equity Increased d. Total Assets Total Equity Unchanged Unchanged e. Total Assets Total Equity Increased Unchanged The entry to record the providing of services (cash to be collected later) would include: a. Debit to Assets & Credit to Liabilities b. Debit to Liabilities & Credit to Assets C. Debit to Assets & Credit to Revenue d. Debit to Owners' Equity & Credit to Revenue e. Debit to Revenue & Credit to Asset
Transcribed Image Text:The issue of Bonds Payable results in: a. Total Assets Increased Total Equity Increased b. Total Assets Decreased Total Equity Decreased C. Total Assets Unchanged Total Equity Increased d. Total Assets Total Equity Unchanged Unchanged e. Total Assets Total Equity Increased Unchanged The entry to record the providing of services (cash to be collected later) would include: a. Debit to Assets & Credit to Liabilities b. Debit to Liabilities & Credit to Assets C. Debit to Assets & Credit to Revenue d. Debit to Owners' Equity & Credit to Revenue e. Debit to Revenue & Credit to Asset
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