please solve 3 & 4 3. Hamilton Lawn Services incurred $800 as a repair expense and paid for it in cash. This transaction willA. increase the liabilities of the businessB. decrease the liabilities of the business) C. decrease the stockholders' equityD. increase the assets of the business4. A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291. Which of the following occurs?A. Cash is credited for $6,081, Equipment is debited for $18,372, and Notes Payable is credited for $12,291.B. Cash is credited for $6,081, Equipment is credited for $18,372, and Notes Payable is debited for $12,291.C. Cash is debited for $6,081, Equipment is credited for $12,291, and Notes Payable is debited for $6,210.O D. Cash is debited for $6,081, Equipment is debited for $12,291, and Notes Payable is credited for $18,372.

Name: please solve 3 & 4 3. Hamilton Lawn Services incurred $800 as a repair
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Description: please solve 3 & 4 3. Hamilton Lawn Services incurred $800 as a repair expense and paid for it in cash. This transaction willA. increase the liabilities of the businessB. decrease the liabilities of the business) C. decrease the stockholders' equityD

Each transaction in double entry accounting system effects assets or liability or shareholders…

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3. Hamilton Lawn Services incurred $800 as a repair expense and paid for it in cash. This transaction will OA. increase the liabilities of the business B. decrease the liabilities of the business C. decrease the stockholders' equity D. increase the assets of the business 4. A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291. Which of the following occurs? OA. Cash is credited for $6,081, Equipment is debited for $18,372, and Notes Payable is credited for $12,291. OB. Cash is credited for $6,081, Equipment is credited for $18,372, and Notes Payable is debited for $12,291. OC. Cash is debited for $6,081, Equipment is credited for $12,291, and Notes Payable is debited for $6,210. D. Cash is debited for $6,081, Equipment is debited for $12,291,and Notes Payable is credited for $18,372.

3. Hamilton Lawn Services incurred $800 as a repair expense and paid for it in cash. This transaction will OA. increase the liabilities of the business B. decrease the liabilities of the business C. decrease the stockholders' equity D. increase the assets of the business 4. A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291. Which of the following occurs? OA. Cash is credited for $6,081, Equipment is debited for $18,372, and Notes Payable is credited for $12,291. OB. Cash is credited for $6,081, Equipment is credited for $18,372, and Notes Payable is debited for $12,291. OC. Cash is debited for $6,081, Equipment is credited for $12,291, and Notes Payable is debited for $6,210. D. Cash is debited for $6,081, Equipment is debited for $12,291,and Notes Payable is credited for $18,372.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PA: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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