1 answer

Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of...

Question:

Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of $15,000 in
Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of $15,000 into the business cash account Identify how the accounting equation will be affected. Oa. Increase in assets (Cash) and increase in owner's equity (Michael Anderson, Capital) Ob. Increase in assets (Accounts Receivable) and decrease in liabilities (Accounts Payable) Oc. Increase in assets (Cash) and increase in assets (Accounts Receivable) Od. Increase in assets (Cash) and increase in liabilities (Accounts Payable)

Answers

Answer : Option A , Increase in Asset (Cash) and Increase in Owners Equity ( Michael Anderson , Capital) .

Explanation;

The accounting equation will be affected .There will be an increase in the Asset in the form of Cash and Increase Owners Equity that is of Michael Andorson .

Owners Equity is the amount that amount is invested by the owner in to the business, excluding from the withdrawal process and this amount is adding the net income or net loss .

.

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