Blue Ivy Inc. has the following transactions for the month of March: Issued common stock S60,000 Purchased land by paying cash $100,000 Paid expenses $25,000 Earned cash fees $75.000 As a cumulative result of these transactions, the liquidity of Blue Ivy Inc.: O decreases by $50,000. O increases by $10,000. O decreases by $25,000. O increases by $75,000.

Blue Ivy Inc. has the following transactions for the month of March: Issued common stock S60,000 Purchased land by paying cash $100,000 Paid expenses $25,000 Earned cash fees $75.000 As a cumulative result of these transactions, the liquidity of Blue Ivy Inc.: O decreases by $50,000. O increases by $10,000. O decreases by $25,000. O increases by $75,000.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section: Chapter Questions

Problem 3AP

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