Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
asdf300 asdf300
wrote...
Go to Answer
Posts: 317
Rep: 0 0
5 years ago
Murphy Company had originally purchased land for $35,000. It later sold it for $35,000 in cash. Which of the following is true of the effect of the sale of land on the accounting equation?
A) assets increase and liabilities decrease by $35,000
B) assets and equity increase by $70,000
C) assets increase by $35,000; equity increases by $35,000
D) the amount of total assets remains the same
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
Read 44 times
2 Replies
Replies
Answer verified by a subject expert
amandamrazamandamraz
wrote...
#1
Posts: 115
Rep: 51 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

asdf300 Author
wrote...
#2
5 years ago
found this very helpful thank you
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  973 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 281
  
 4429
  
 55
Your Opinion
Which country would you like to visit for its food?
Votes: 204
Previous poll results: What percentage of nature vs. nurture dictates human intelligence?