[Answer] Dolphin company paid off 30 000 of its accounts payable in cash. What would be the effect of its transaction on the accounting equation?

Answer: Assets 30 000 decreases; liabilities decreases; equity no affect

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Dolphin company paid off 30 000 of its accounts payable in cash. What would be the effect of its transaction on the accounting equation? Garcia company received its telephone bill in the amount of $300 and immediately paid it. The highland county inn is a very popular destination for tourist. The inn requires to make reservation al least two month in advance of their stay and 20% down payment is require at the time the reservation is made. The assets of a company total 700 000; the liabilities 200 000. What is the amount of owner's equity as of July 1st of the current year? Zion company has assets of 600 000 liabilities of 250 000 and equity of 350 000. It buys office equipment on credit for 75000 . On December 31 of the current year the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable debit balance of $95 250; Allowance for Doubtful Accounts credit balance of $921. If a company has excess space in its building that it rents to another company for $700 what is the effect on the accounting equation when the first rent payment is collected?-Assets would de...

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