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Home Q & A Board Other Fields Homework Help Business Accounting
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harra harra
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7 years ago
Purchasing a building for $120,000 by paying cash of $30,000 and obtaining a mortgage for $90,000 would:
A) increase assets and increase liabilities by $90,000.
B) increase owner's equity by $90,000.
C) increase liabilities by $30,000.
D) decrease assets and decrease liabilities by $30,000.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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HanoiHanoi
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7 years ago
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harra Author
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#2
6 years ago
Very timely, excellent answer
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