need answers please 3.Multiple-Choice(10 Points) The accounting 201...
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Accounting
need answers please
3.Multiple-Choice(10 Points) The accounting 201 class wants to start ataco stand, but they have no money. They borrow $50,000 from the bank, and makea deal with Mark, giving him the money and half the common stock (which meanshe owns half the company and its profits) in exchange for a taco truck Markowned. How should the taco truck beclassified? A Equity Asset Liability D None of the above 4.Multiple-Choice(10 Points) The accounting 201 class wants to start ataco stand, but they have no money. They borrow $50,000 from the bank, and makea deal with Mark. giving him the money and half the common stock (which meanshe owns half the company and its profits) in exchange for a taco truck Markowned. How should the bank loan beclassified? A Equity Asset Liability D None of the above The accounting 201 class wants to start a taco stand, but they have no money. They borrow $50,000 from the bank, and make a deal with Mark, giving him the money and half the common stock (which means he owns half the company and its profits) in exchange for a taco truck Mark owned. How should the common stock be classified? A Equity B Asset C Llability D None of the above
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