Which of the following transactions would increase an asset and increase owner's equity?
A)payment of a note payable
B)receipt of cash in payment of an account receivable
C)owner investment of land into the business
D)payment of the telephone bill

Question

Quizplus · Accepted Answer

C) Owner investment of land into the business increases an asset (land) and increases owner's equity because the owner is contributing capital to the business.

Which of the Following Transactions Would Increase an Asset and Increase