BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
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The accounting equation for Cineo Enterprises is as follows:Assets Liabilities Owner’s Equity$120, 000 = $60, 000 + $60, 000If Cineo purchases office equipment on account for $15, 000, the accounting equation will change to
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Assets Liabilities Owner’s Equity$120, 000 = $60, 000 + $60, 000
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Assets Liabilities Owner’s Equity$135, 000 = $60, 000 + $75, 000
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Assets Liabilities Owner’s Equity$135, 000 = $67, 500 + $67, 500
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Assets Liabilities Owner’s Equity$135, 000 = $75, 000 + $60, 000
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Explanation:
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