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Author Question: A company with a perpetual inventory system purchases inventory on account. What is the effect of ... (Read 255 times)

Melani1276

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on: Jul 5, 2018
A company with a perpetual inventory system purchases inventory on account. What is the effect of this transaction on the accounting equation?
 
  A) increase one asset and decrease another asset
  B) increase an asset and decrease retained earnings
  C) increase an asset and decrease a liability
  D) increase an asset and increase a liability

Question 2

A(n) ___________________ _ contains a listing of all items being deposited.
 Fill in the blank(s) with correct word


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sultansheikh

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

D

Answer to Question 2

deposit ticket


Melani1276

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

hramirez205

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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