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An owner investment of a building valued at 200000

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7) An owner investment of a building, valued at $200,000, along with a $55,000 outstandingmortgage, into an entity would:A) increase owner's equity $145,000.B) increase owner's equity $200,000.C) increase total assets $55,000.D) decrease liabilities $145,000.
8) The account credited when cash is received from a customer on account is:
9) The purchase of office equipment for cash would increase assets and decrease liabilities.
10) A business purchases equipment for cash of $100,000. This transaction will cause: 10) ______

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Term
Spring
Professor
N/A
Tags
Balance Sheet, Generally Accepted Accounting Principles, Double entry bookkeeping system, 20 000

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