Jackson Electric Services Company Incurred $800 as a Repair Expense

question 221

Multiple Choice

Jackson Electric Services Company incurred $800 as a repair expense and paid for it in cash.The company is a sole proprietorship.This transaction will ________.

• A) decrease the owner's equity
• B) increase the assets of the business
• C) increase the liabilities of the business
• D) decrease the liabilities of the business

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Definitions:

Shape Fill

A feature in graphic design and office software that allows users to fill shapes with colors, patterns, or textures.

Shape Outline

In graphic design and desktop publishing, the external border or edge definition of a shape, which can be formatted with various styles, colors, and thicknesses.

Row Color

A feature in spreadsheet or database software that allows users to change the background color of individual rows for better visual differentiation.

Form Color

The background color or style of a form in a graphical user interface.