Solution: Pacman Company buys a $12,000 van on credit. The transaction will affect the a. income statement only. b. balance sheet only. c. income statement and owner's equity statement only. d. income statement, owner's equity statement, and balance sheet.

Solution: Pacman Company buys a $12,000 van on credit. The transaction will affect the a. income statement only. b. balance sheet only. c. income statement and owner's equity statement only. d. income state

Problem

Pacman Company buys a $12,000 van on credit. The transaction will affect the

a. income statement only.

b. balance sheet only.

c. income statement and owner's equity statement only.

d. income statement, owner's equity statement, and balance sheet.