Question

Select all that apply Given the accounts below, choose all of the ones that affect equity. (Check all answers that apply.) Multiple select question. Cash Common Stock Accounts Payable Revenues Dividends Expenses Mortgage Payable

Answer 1

The accounts that affect equity are revenues, common stock, expense, and dividends.

The following information should be relevant for the equity:

• If there is an increase in revenue so the equity is also increased.
• If there is an increase in the common stock so the equity is also increased.
• If the expense is increased so it decreased the equity.
• If the dividend is paid so the equity is decreased

In this way, the equity account is affected.

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