Question 18 of 20 50 points the purchase of supplies

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MCQ

Question 17   of 20 5.0 Points Bonnie ’s Baskets purchases $ 4,000 worth of office equipment on account . This causes
A. Cash and Capital to decrease .
B. Office Equipment and Accounts Payable to increase .
C. Office Equipment to decrease and Accounts Payable to increase .
D. Accounts Payable to increase and Capital to decrease .
Answer:  B.   Office Equipment and Accounts Payable to increase .
Question 19   of 20 5.0 Points If total liabilities are $ 18,000 and owner ’s equity is $ 21,000 , the total assets must be
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Question 20   of 20 5.0 Points The balance sheet contains
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Question 18 of 20 5.0 Points
The purchase of supplies for cash would affect which account category?

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