Accounting 101

posted by .

What type of transaction decreases a liability and increases a liability.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Business Environment and Recording Transactions

    Give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease an asset and decrease owner's equity. …
  2. accounting I

    The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations. …
  3. HELP

    The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations. …
  4. economics

    What is the difference between the application of strict liability in products liability and in other applications of strict liability?
  5. Accounting

    the transaction would decrease one liability account and increase another liability account
  6. accounting

    The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations. …
  7. accounting

    The transaction would decrease one liability account and increase another liability account
  8. Accouting

    Vacation pay payable is reported on the balance sheet as a(n) a. current liability or long-term liability, depending upon when the vacations will be taken by employees b. current liability c. expense d. long-term liability it's not …
  9. Accounting

    An estimated liability: 1. Is an unknown liability of a certain amount. 2. Is a known obligation of an uncertain amount that can be reasonably estimated. 3. Is a liability that may occur if a future event occurs. 4. Is not recorded …
  10. Accounting

    Accounting 1 Help! 1. An accountant records a transaction when cash is paid or received under which basis of accounting?

More Similar Questions