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impact on the accounting equation would be:
D. Decrease assets, increase assets
The entry would be:
Prepaid expenses Debit
Cash Credit
Prepaid expense are assets and there value would increase and the value of another asset; cash
would decrease.
Solution
impact on the accounting equation would be:
D. Decrease assets, increase assets
The entry would be:
Prepaid expenses Debit
Cash Credit
Prepaid expense are assets and there value would increase and the value of another asset; cash
would decrease.

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impact on the accounting equation would beD. Decrease assets, inc.pdf

  • 1. impact on the accounting equation would be: D. Decrease assets, increase assets The entry would be: Prepaid expenses Debit Cash Credit Prepaid expense are assets and there value would increase and the value of another asset; cash would decrease. Solution impact on the accounting equation would be: D. Decrease assets, increase assets The entry would be: Prepaid expenses Debit Cash Credit Prepaid expense are assets and there value would increase and the value of another asset; cash would decrease.