Asked by Emily_ nicole on Apr 25, 2024
Bob purchased a new computer for the company for cash. The transaction will:
A) increase Computer; increase Capital.
B) decrease Cash; increase Accounts Payable.
C) decrease Cash; increase Computer.
D) increase Supplies; increase Accounts Payable.
Accounts Payable
Short-term liabilities of a company, representing amounts owed to suppliers or creditors for goods and services received but not yet paid for.
Computer
An electronic device capable of manipulating data or information, allowing for storage, retrieval, and processing to perform various tasks.
Capital
The financial resources available for use, such as cash, goods, or property, invested to create profit.
- Investigate transactions to establish their effect on the accounting equation.
- Gain insight into the process of asset procurement and its influence on the balance of accounting equations.
Learning Objectives
- Investigate transactions to establish their effect on the accounting equation.
- Gain insight into the process of asset procurement and its influence on the balance of accounting equations.