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# (Solved): 13. What Is The Effect Of Interest Received On The Accounting Equation? (1) Equity Will Increase, An...

PLEASE HELP ME WITH NUMBER 13 AND 14

13. What is the effect of interest received on the accounting equation? (1) Equity will increase, and assets wil decrease (2) Equity will decrease, and assets will increase (3) Equity will increas, and assets will increase (4) Equity will increase, and liabilities wil decrease (5) Equity will decrease, and liabilities will increase ASSIGNMENT 1, SEMESTER 1 (continued) 14 Assets are... (a) all the resources controlled by the entity (b) equal to equity minus liabilities (a) all the resources owned by the entity (d) equal to equilty plus liabilities Which one of the following reflects all the statements that are true? (1) (alb) (2) (a), (d) (3) (a) (b), (d) (4) (a), (b), (c), (d) (5) (a), (b), (c)

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Answers: 13.(3) Equity will increase and asset will increase Explanation: For example Interest recieved amounting to $100. I