Johnson Corporation recently borrowed $10,000 cash from the bank. Which of the following was affected by this transaction?
A: Cash
B: Land
C: Accounts receivable
D: Owner's equity
A: Cash
B: Land
C: Accounts receivable
D: Owner's equity
举一反三
- Which of the following affects a company’s equity: A: Machine B: Service Revenue C: Accounts Receivable D: Cash
- Which of the following will cause a change in the owners' equity of a business? A: Purchase of equipment with cash B: Payment of the liability with cash C: Investment of cash in the business by the owner D: Sale of equipment for cash at cost
- Which of the following accounts normally contain a credit balance? A: land B: Accounts Receivable. C: Accounts Payable. D: Cash
- An attorney performs services of $1,100 for a client and receives $400 cash, with the remainder on account. The journal entry for this transaction would A: debit Cash, debit Service Revenue, credit Accounts Receivable. B: debit Cash, debit Accounts Receivable, credit Service Revenue. C: debit Cash, credit Service Revenue. D: debit Cash, credit Accounts Receivable, credit Service Revenue.
- Which of the following current assets will not generate cash in the future? A: prepayments B: accounts receivable C: inventory D: marketable securities