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Author Question: Michael Anderson is starting his computer programming business and has deposited in initial ... (Read 58 times)

danielfitts88

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on: Jul 5, 2018
Michael Anderson is starting his computer programming business and has deposited in initial investment of 15,000into the business cash account. Identify how the accounting equation will be affected.
 a. Increase Assets (Cash) and increase Liabilities (Accounts Payable)
  b. Increase Assets (Cash) and increase Owner's Equity (Michael Anderson, Capital)
  c. Increase Assets (Accounts Receivable) and decrease Liabilities (Accounts Payable)
  d. Increase Assets (Cash) and increase Assets (Accounts Receivable)

Question 2

Debt Service Fund expenditures would include all of the following except:
 
  a. Fiscal agent fees
  b. Bond issues costs
  c. Principal retirement payments
  d. Discounts on refunding bonds


6ana001

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

b

Answer to Question 2

D


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