Morris lest, inc. purchased machinery for $10,000 cash. the effect of this transaction is to cause?

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06-09-2022
Business

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Morris lest, inc. purchased machinery for $10,000 cash. the effect of this transaction is to cause?

Sagot :

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Tutorconsortium367idn Tutorconsortium367idn · Answer 1 · 2022-09-09T00:04:45-04:00

Morris Lest Inc.'s acquisition of machinery would result in the same level of total assets.

How will the assets fare?

The acquisition of machines will boost total assets. For the production of products and services, equipment is a fixed asset that is necessary.

Cash is also an asset and using it to purchase items will reduce it. As a result, the total assets in this instance remained unchanged as one asset decreased and another increased by the same amount.

To learn more about effects of transactions on assets from the given link:

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Sagot :

How will the assets fare?

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