Question

$1.00 The accounting equation for Gudgeyes Enterprises is as follows:

Found in Business: Accounting
Chapter 1, # 0
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Q:

The accounting equation for Gudgeyes Enterprises is as follows:

Assets

  

Liabilities

  

Owner's Equity

$120,000

=

$60,000

+

$60,000

If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to

 

Assets

 

Liabilities

 

Owner's Equity

 

 

$132,000

=

$60,000

+

$72,000

 

 

$132,000

=

$72,000

+

$60,000

 

 

$120,000

=

$60,000

+

$60,000

 

 

$132,000

=

$66,000

+

$66,000
 

Tutorial
 
$1.00
The accounting equation for Gudgeyes Enterprises is as follows:
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  • Posted on Nov. 29, 2011 at 08:12:21AM
A:
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