Match each of the numbered transactions of a corporation with the appropriate letters, indicating the effect of the transactions (increases and decreases
-Paid rent for the current month
A) Increase an asset
B) Decrease an asset
C) Decrease a liability
D) Increase a liability
E) Decrease common stock
F) Increase common stock
G) Increase dividends
H) Decease dividends
I) Decrease revenue
J) Increase revenue
K) Increase expense
L) Decrease expense

Question

Quizplus · Accepted Answer

Paying rent for the current month decreases an asset (cash) and increases an expense (rent expense).

Match Each of the Numbered Transactions of a Corporation with the Appropriate