Venus, Inc. paid $12,000 on accounts payable. How does this transaction affect the accounting equation of Venus?
A) assets decrease by $12,000 and equity increases by $12,000
B) assets decrease by $12,000 and liabilities decrease by $12,000
C) assets increase by $12,000 and equity decreases by $12,000
D) assets increase by $12,000 and liabilities increase by $12,000
B
Business
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Which of the following would be considered an appurtenance?
A. Trade fixtures installed by a tenant. B. A portable gas grill. C. A farmer's growing crops. D. A furnace installed in a house.
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Which of the following would not be considered a current asset?
A) long-term investments B) cash C) accounts receivable D) marketable securities
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