Financial Accounting > QUESTIONS & ANSWERS > ACCT 212 Week 2 Checkpoint 2021 (All)
ACCT 212 Week 2 Checkpoint 2021
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1. Question : (TCO 2) A company received cash in exchange for issuing stock. This transaction increased assets and Student Answer: increased expenses. increased revenues. increased liabilities. ... increased equity. Instructor Explanation: See Chapter 2. Points Received: 3 of 3 Comments: Question 2.Question : (TCO 2) Which of the following transactions will increase Stockholders' Equity? Student Answer: The company pays a dividend to its shareholders. The company issues common stock to new shareholders. The president of the company buys a new personal automobile. The company makes a payment on account. Instructor Explanation: See Chapter 2. Points Received: 3 of 3 Comments: Question 3.Question : (TCO 2) When a company borrows cash from the bank Student Answer: total assets remain the same. liabilities are increased. retained earnings is decreased. total liabilities remain the same. [Show More]
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