Financial statement elements, Accounting Basics

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Financial statement elements

XYZ Company deposited $15,000 in a bank account in return for issuing shares in the corporation. This transaction would affect which two financial statement elements?

a) Assets and stockholders' equity

b) Assets and liabilities

c) Liabilities and stockholders' equity

d) None of these choices

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Accounting Basics: Financial statement elements

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Accounting Basics: Financial statement elements

Reference No:- TGS043568

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Reclassification of the receivables

Q : How much of loss may corbin deduct

Q : Company checking account balance at the bank

Q : Gross margin appearing on the income statement

Q : Financial statement elements

Q : Purchase of equipment for cash

Q : Effect of error on the accounting equation

Q : Payable to borrow cash from the bank

Q : What is the ending balance in stockholders equity

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Financial statement elements

Reference No:- TGS043568

Recent Questions Asked Accounting Basics

Q : Reclassification of the receivables

Q : How much of loss may corbin deduct

Q : Company checking account balance at the bank

Q : Gross margin appearing on the income statement

Q : Financial statement elements

Q : Purchase of equipment for cash

Q : Effect of error on the accounting equation

Q : Payable to borrow cash from the bank

Q : What is the ending balance in stockholders equity

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