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Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN: 9781305654174
Author: Gary A. Porter, Curtis L. Norton
Publisher: Cengage Learning
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Question
XYZ Co.'s petty cash receipts indicate the following expenditures for the end of October:
Office supplies |
$490 |
Miscellaneous selling expense |
$300 |
Miscellaneous administrative expense |
$120 |
These transactions would result in a:
|
a. |
$910 increase in total assets. |
|
b. |
$490 decrease in |
|
c. |
$420 decrease in total assets. |
|
d. |
$910 increase in stockholders' equity. |
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