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Smith Decorating Services pays $200 cash for rent expense. How would this transaction affect the accounting equation?

Smith Decorating Services pays $200 cash for rent expense. How would this transaction affect the accounting equation?
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Smith Decorating Services pays $200 cash for rent expense. How would this transaction affect the accounting equation?

User Bokor
by
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1 Answer

2 votes
Equity would decrease (Expenses, Rent Expense in this case, causing Retained Earnings to decrease).
User Ziyad Edher
by
7.4k points
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