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In finanacial accounting what business transaction will increase capital and decrease capital at the same time?
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∙ 12y ago
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∙ 12y ago
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A business paid 7000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to?
decrease in asset and decrease in liability
When two asset accounts are changed in a transaction there must be an increase and a decrease?
yes accounting equation is asset = liability +own's equity. the transaction is a decrease on account recceivable of asset and an increase on capital of asset. therefore, the equation is balanced.
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What transaction would decrease an asset account and decrease the owner's equity account?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
What transaction would decrease an asset account and decrease the owner equity account.?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
A business paid 7000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to?
decrease in asset and decrease in liability
When two asset accounts are changed in a transaction there must be an increase and a decrease?
yes accounting equation is asset = liability +own's equity. the transaction is a decrease on account recceivable of asset and an increase on capital of asset. therefore, the equation is balanced.
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What transaction would decrease an asset account and decrease the owner and equity account?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
What transaction would decrease an asset account and decrease the owner's equity account?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
What transaction would decrease an asset account and decrease the owner equity account.?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
Which transaction would increase and decrease an assat?
A debit would increase and a credit will decrease .
Transaction that will decrese an asset anf decrease a liability?
Payment to the creditors Creditors Decrease Bank balance decrease
How does paying a liability with cash affect the accounting equation?
assets decrease; liabilities decrease
Is a Decrease in cash a credit?
In a double entry accounting system, you decrease the cash account with a credit.
Is payment by check a credit or cash transaction?
Paying by cheque is a cash transaction. Assets: debit =increase credit=decrease
Why do shareholders need accounting information?
To decide if they are going to increase or decrease their holding.
