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Apatha Company has assets of $600,000, liabilities of $250,000 and equity of $350,000. It buys office equipment on credit for $75,000. The effects of this transaction include:

a) Assets increase by $75,000 and expenses increase by $75,000

b) Assets increase by $75,000 and expenses decrease by $75,000

c) Liabilities increase by $75,000 and expenses decrease by $75,000

d) Assets decrease by $75,000 and expenses decrease by $75,000

e) Assets increase by $75,000 and liabilities increase by $75,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947508

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