Question

Ryan withdrew cash from the business to pay his personal cellphone bill. The expanded accounting equation changes include a/an

A. Increase in both cash and withdrawal
B. Decrease in both cash and withdrawal
C. Decrease in cash and increase in withdrawal
D. Increase in cash and a decrease in withdrawal

Answer 1

The correct answer is C. Decrease in cash and an Increase in withdrawal.

Answer 2

If Ryan withdrew cash from the business to pay his personal cellphone bill, then the expanded accounting equation changes include a decrease in both cash and withdrawal.