Determine the effect on the balance sheet after the following transaction.
you sell a product purchased for $750 for $1,500.00. this means:
cash increases by $750
cash decreases by $750
owner’s equity increases by $750
owner’s equity decreases by $750

C. Owners equity increases by $750

Step-by-step explanation:

We are given that,

The product is sold for $1500 which was purchased for $750.

Since, 'Owner's equity is the difference of the assets and liabilities'.

As, the cost of the product (asset) = $750 and the selling price of the product (liabilities) = $1500

Now, the difference being positive implies that the equity increases by $750.

Thus, the correct option is given by,

x= 149. 24+7=31. 180-31=149

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step-by-step explanation: