QUESTION 43 Using the following, select the best answer indicating the effect of the transaction given below Event BALANCE SHEET INCOME STATEMENT Assets = Liabilities Revenues Expenses Stockholders' Equity b. Paid the rent for April in cash in the amount of $2,000 V The asset Cash is decreased by $2,000 and Rent expense is increased by $2,000, thereby decreasing retained earnings and total equity The asset Cash is decreased by $2,000 and the Accounts payable is increased by $2,000 The asset Cash is decreased by $2,000 and Rent expense is decreased by $2,000, thereby increasing retained earnings and equity The asset Cash is increased by $2.000 and Rent expense is increased by $2,000, thereby decreasing retained earnings and equity QUESTION 44 Using the following select the best answer indicating the effect of the transaction given below BALANCE SHEET Assets Lihilities INCOME STATEMENT Pour no Event