Which of the following transactions would cause an increase in both assets and equity?
A) Investment of cash in the business by the owner.
B) Sale of land for a price less than its cost.
C) Borrowing money from a bank.
D) Sale of land for cash at a price equal to its cost.

Question

Quizplus · Accepted Answer

Investment of cash into the business by the owner will increase the cash account (an asset) and the owner's equity in the business.

Which of the Following Transactions Would Cause an Increase in Both