Journal Entries: Business Formation Example Video Lessons

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Problem: The purchase of equipment for cash would: a. have no effect on total assets b. increase total assets and decrease liabilities c. increase total assets d. decrease both liabilities and owner's equity

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Problem Details

The purchase of equipment for cash would:

a. have no effect on total assets

b. increase total assets and decrease liabilities

c. increase total assets

d. decrease both liabilities and owner's equity

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Our tutors rated the difficulty ofThe purchase of equipment for cash would: a. have no effect...as medium difficulty.

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Based on our data, we think this problem is relevant for Professor Reinking's class at UCF.