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Author Question: Team Shirts purchased 5,000 worth of its own stock in the stock market. The transaction would ... (Read 106 times)

scienceeasy

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on: Jul 5, 2018
Team Shirts purchased 5,000 worth of its own stock in the stock market. The transaction would _________ cash by 5,000 and _________ shareholders' equity by 5,000.
 
  A) increase; increase
  B) decrease; decrease
  C) increase; decrease
  D) decrease; increase

Question 2

A check drawn by a company for 340 in payment of a liability was recorded in the journal as 430 . This itemwould be included on the bank reconciliation as a(n)
 a. addition to the balance per the company's records
  b. addition to the balance per the bank statement
  c. deduction from the balance per the bank statement
  d. deduction from the balance per the company's records


akpaschal

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Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

a


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