During the month you purchased $12,000 of supplies on credit and $19,000 of equipment for cash. When you prepare a balance sheet, assets are $24,000 more than liabilities plus shareholders' equity...


During the month you purchased $12,000 of supplies on credit and $19,000 of equipment for cash. When you prepare a balance sheet, assets are $24,000 more than liabilities plus shareholders' equity<br>Multiple Choice<br>You may have posted the increase in supplies as a credit rather than a debit.<br>O You may have posted the increase in accounts payable as a debit rather than a credit.<br>You may have neglected to post the change in accounts payable.<br>O All would have resulted in the $24,000 error.<br>

Extracted text: During the month you purchased $12,000 of supplies on credit and $19,000 of equipment for cash. When you prepare a balance sheet, assets are $24,000 more than liabilities plus shareholders' equity Multiple Choice You may have posted the increase in supplies as a credit rather than a debit. O You may have posted the increase in accounts payable as a debit rather than a credit. You may have neglected to post the change in accounts payable. O All would have resulted in the $24,000 error.

Jun 11, 2022
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