Which of the following transactions does not affect the total assets of Vertican Sailing Corp.?
A) A bill is received for the telephone service used by Horizon Sailing during the past month.
B) Dividends are paid by Horizon Sailing.
C) Customers are billed for sales made on credit by Horizon Sailing.
D) A new computer is purchased on credit by Horizon Sailing.

Question

Quizplus · Accepted Answer

Receiving a bill for telephone service does not immediately affect total assets, as it is a liability that will be paid in the future.

Which of the Following Transactions Does Not Affect the Total