Delta Company Experienced an Accounting Event That Affected Its Financial

question 17

Multiple Choice

Delta Company experienced an accounting event that affected its financial statements as indicated below:
$$\begin{array} { | c | c | c | c | c | c | c | } \hline \text { Assets } & = & \text { Liabilities } & + & \begin{array} { c } \text { Common } \\\text { Stnck }\end{array} & + & \begin{array} { c } \text { Retained } \\\text { Earnings }\end{array} \\\hline - & = & \mathrm { NA } & + & \mathrm { NA } & + & - \\\hline\end{array}$$
Which of the following accounting events could have caused these effects on Delta's statements?

• A) Purchased land for cash.
• B) Incurred a cash expense.
• C) Borrowed money from a bank.
• D) Earned cash revenue.

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