SOLUTION: hi Can help me please thanks State whether the following statements are TRUE (T) or FALSE (F) 1- Robitaille Company received a cash advance of $500 from a customer. A

Question 1160864: hi
Can help me please
thanks
State whether the following statements are TRUE (T) or FALSE (F)
1- Robitaille Company received a cash advance of $500 from a customer. As a result of this event, assets will be increased by $500.

2- Pastorek Company purchased equipment for $1,800 cash. As a result of this event, equity will be decreased by $1,800.

3- Root Company provided consulting services and billed the client $2,500. As a result of this event, assets are remained unchanged.

Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!

1- Robitaille Company received a cash advance of $500 from a customer. As a result of this event, assets will be increased by $500.->TRUE
2- Pastorek Company purchased equipment for $1,800 cash. As a result of this event, equity will be decreased by $1,800.->FALSE

3- Root Company provided consulting services and billed the client $2,500. As a result of this event, assets are remained unchanged.->FALSE
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