On December 10, 2022, Vaisseau Inc. placed an order for the purchase of a new...
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Accounting
On December 10, 2022, Vaisseau Inc. placed an order for the purchase of a new maintenance vessel from a German manufacturer. The purchase price is $620,000 and will be paid by Vaisseau Inc. when it receives the vessel in March 2023. What is the impact of this order on the financial statements for fiscal year 2021 : Options for Question 21:
An increase in expenses and a decrease in equity
No impact
An increase in assets and an increase in equity
An increase in assets and an increase in liabilities
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