BELOU Roku 2019 RENTALS SCR a. A vacant lot acquired for $83,000 cash is sold for $127,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If the effect is no change, then enter a "0" in amount box. Enter all dollar amounts as positive numbers. 1. Assets 2. Liabilities 3. Stockholders' equity b. Assume that the seller owes $52,000 on a loan for the land. After receiving the $127,000 cash in (a), the seller pays the $52,000 owed. What is the effect of the payment on the total amount of the seller's (1) assets, (2) Sabilities, and (3) stockholders equity? If the effect is no change, then enter a "0" in amount box. Enter all dollar amounts as positive numbers. 1. Assets 2. Liabilities 3. Stockholders' equity

BELOU Roku 2019 RENTALS SCR a. A vacant lot acquired for $83,000 cash is sold for $127,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If the effect is no change, then enter a "0" in amount box. Enter all dollar amounts as positive numbers. 1. Assets 2. Liabilities 3. Stockholders' equity b. Assume that the seller owes $52,000 on a loan for the land. After receiving the $127,000 cash in (a), the seller pays the $52,000 owed. What is the effect of the payment on the total amount of the seller's (1) assets, (2) Sabilities, and (3) stockholders equity? If the effect is no change, then enter a "0" in amount box. Enter all dollar amounts as positive numbers. 1. Assets 2. Liabilities 3. Stockholders' equity

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Description: a. A vacant lot acquired for $83,000 cash is sold for $127,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity?If the effect is no change, then enter a "0" in amou

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 5MC: Assume a company has a $350 credit (not cash) sale. How would the transaction appear if the business...

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