Select all that applyBusy Beaver, Inc. signed a $315,000, 5-year note payable to buy a new $315,000 industrial veneer cutter. Busy Beaver paid $5,000 cash for transportation of the machine and $750 cash for installation costs. What is the overall effect of this transaction on the accounting equation? (Check all that apply.)Multiple select question.Machinery, an asset, increases $320,750.Total assets increase $309,250.Total liabilities increase $320,750.Total assets increase $315,000.Total liabilities increase $315,000.Machinery, an asset, increases $315,000.

sole trader sells goods for cash for $500 which had cost of $300. Which elements of the accounting equation will change due to this transaction?Question 1Answera.Capital and liabilitiesb.Assets onlyc.Assets and liabilitiesd.Assets and capital

Select all that applyA company sells a machine that cost $7,000 for $500 cash. The machine had $6,500 accumulated depreciation. The entry to record this transaction will include which of the following entries?Multiple select question.Credit to Cash for $500.Debit to Loss on Sale of Machinery for $500.Credit to Machinery for $7,000.Debit to Cash for $500.Debit to Accumulated Depreciation - Machinery for $6,500.Credit to Gain on Sale of Machinery for $500.Credit to Accumulated Depreciation - Machinery for $6,500.Debit to Machinery for $7,000.

Withdrew 150 cash from the bank and placed it in the cash box. What is the effect of the transaction on the accounting equation? A. Decrease in Assets ,Decrease in Equity B. Increase in Equity ,Increase in Liability C. Increase in Assets ,Decrease in Assets D. Decrease in Liability ,Increase in Capital

Use the basic accounting equation to answer these questions.(a) The liabilities of Carla Vista Company are $86,400 and the stockholders’ equity is $220,800. What is the amount of Carla Vista’s total assets?Total assets$enter the total assets in dollars (b) The total assets of Sandhill Company are $163,200 and its stockholders’ equity is $76,800. What is the amount of its total liabilities?Total liabilities$enter the total liabilities in dollars (c) The total assets of Wildhorse Co. are $768,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Wildhorse’s stockholders’ equity?Stockholders’ equity$enter the stockholders’ equity in dollars

If the company borrows $10,000 from the bank, and uses the money to purchase a new motor vehicle costing $10,000, the net effect on the accounting equation will be: Group of answer choices 1.Assets + $10,000, Liabilities – $10,000. 2.Assets + $10,000, Liabilities + $10,000. 3.Assets + $10,000, Equity + $10,000. 4.Liabilities + $10,000, Equity + $10,000.