Venus inc. paid $5,000 for account payable. how does this transaction affect the accounting equation of venus?

a) assets decrease by $5,000 and equity increases by $5,000
b) assets decrease by $5,000 and liabilities decrease by $5,000
c) assets increase by $5,000 and equity decreases by $5,000
d) assets increase by $5,000 and liabilities increase by $5,000

B) Assets decrease by $5,000 and liabilities decrease by $5,000

Explanation:

Account equation of any entity can be represented by following equation:

Assets=Equity+Liabilities

When the entity pays for any account payable, its current liabilities in balance sheet are decreased and at the same time the cash included in the current assets of the balance sheet is also decreased.

In this case, the $5,000 paid by Venus Inc.  will decrease the liabilities and assets section of Venus's balance sheet by $5,000.

So based on the above discussion, the answer shall be B) Assets decrease by $5,000 and liabilities decrease by $5,000

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

~

whats the