What would be the effect on the accounting equation, Accounting Basics

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What would be the effect on the accounting equation

If a purchase of supplies for $1,341 was mistakenly recorded as a credit to Supplies, but the cash paid for the supplies was correctly recorded, what would be the effect on the accounting equation?

Assets would be , (less than or more than) liabilities plus stockholders' equity.

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Accounting Basics: What would be the effect on the accounting equation

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Accounting Basics: What would be the effect on the accounting equation

Reference No:- TGS0680986

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Recent Questions Asked Accounting Basics

Q : Explain the fixed manufacturing overhead

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What would be the effect on the accounting equation

Reference No:- TGS0680986

Recent Questions Asked Accounting Basics

Q : Explain the fixed manufacturing overhead

Q : Determine entries using the accrual basis of accounting

Q : Probability related to bit error rate

Q : Explain dollar on foreign exchange markets over next year

Q : What would be the effect on the accounting equation

Q : Describe the performance of the legal service

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Q : Cindy works as a retail manager

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