Question: Alpha had a transaction that caused a $ 6 , 0 0 0 increase in both total assets and total liabilities. This transaction could have

Alpha had a transaction that caused a $6,000 increase in both total assets and total liabilities. This transaction could have been which of the following?
Group of answer choices
The repayment of a $6,000 loan to the bank.
The receipt of $6,000 from a customer to satisfy an account receivable.
None of these.
The receipt of $6,000 from a customer before it is earned.
The cash purchase of a computer.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Which of the following is not one of the auditors' primary objectives in an examination of investments in securities ? Multiple Choice To determine whether all securities are in proper, secure ,...

Q:

The article Cities Trying to Rejuvenate Recycling Efforts (USA Today, October 27, 2006) states that the amount of waste collected for recycling has grown slowly in recent years. This statement is...

Q:

The ledger and trial balance of Sweetwater Services Co. as of July 31, 2012, the end of the first month of its current fiscal year, are presented in the working papers. Date needed to determine the...

Q:

Which of the following is not an example of a source of systematic risk? Choice 1 : interest rate changes and unexpected changes in the overall economic outlook Choice 3 : labor union stirkes Cholcer...

Q:

What are some food related health care issues that inner cities are more likely to see than more affluent areas? Why are certain areas most likely to experience inadequate healthy food options than...