-Based on the Transactions in the Above Table, What Is

question 212

Multiple Choice

-Based on the transactions in the above table, what is the change in the U.S. capital account?

• A)$9,800
• B)$10,000
• C)-$20,000
• D)-$20,200

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Definitions:

Equity

The residual interest in the assets of an entity after deducting liabilities, representing ownership interest in the company.

Accounts Payable

Liabilities owed by a business to its suppliers or creditors for goods or services received but not yet paid for.

T-account

A graphical representation of a general ledger account that outlines the effects of transactions on account balances.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.