FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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General accounting problems
Transcribed Image Text:Mize Company provided $45,500 of services on account and collected
$38,000 from customers during the year. The company also incurred
$37,000 of expenses on account and paid $32,400 against its payables.
As a result of these events:
A. total assets would increase
B. total liabilities would increase
C. total equity would increase
D. All of these answer choices are correct.
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