Which of the following reflects the impact of a transaction where $330,000 cash was invested by stockholders in exchange for stock?
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Assets and revenues each increased $330,000. |
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Stockholders’ equity and revenues each increased $330,000. |
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Stockholders’ equity and assets each increased $330,000. |
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Assets and liabilities each increased $330,000.
| A corporation has $89,000 in total assets, $31,500 in total liabilities, and a $17,400 credit balance in retained earnings. What is the balance in the contributed capital account? |
rev: 05 04 2011
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$40,100 |
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$57,500 |
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$48,900 |
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$74,900
| When a company buys equipment for $151,000 and pays for one fourth in cash and the other three fourths is financed by a note payable, which of the following are the effects on the accounting equation? |
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Total liabilities decrease by $37,750. |
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Total assets decrease by $37,750. |
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Total assets increase by $113,250. |
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Total liabilities increase by $151,000.
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