Adjusting Entries: Supplies Video Lessons

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Problem: How does purchasing supplies for cash effect the accounting equation? a) Increase assets. b) Decrease stockholders' equity. c) Decrease liabilities. d) No effect.

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Problem Details

How does purchasing supplies for cash effect the accounting equation?

a) Increase assets.

b) Decrease stockholders' equity.

c) Decrease liabilities.

d) No effect.

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