Which of the following cash transactions results in an increase to one asset account and a decrease to another asset account?
A) Borrowing cash from a bank
B) Issuing common stock for cash
C) Purchasing land for cash
D) Providing services for cash

Question

Quizplus · Accepted Answer

Purchasing land for cash would result in an increase to the land asset account (as a new asset is acquired) and a decrease to the cash asset account (as cash is used to make the purchase).

Which of the Following Cash Transactions Results in an Increase