Mark which account categories apply to the
transactions.
Homework Answers
Answer:
Explanation:
1. Computer is a capital asset. As such purchase of computer using credit card will increase asset and increase liability.
2. Spending for lunch by paying cash will increase expense and decrease cash (asset) and decrease equity.
3. Earning a paycheck increases 'Income/Revenue' and increases both equity and bank balance (asset)
4. Paying credit card balance, decreases bank balance (asset) and decreases liability
5. Depreciating computer, increases 'expense' (depreciation expense),decreases both equity and assets.
Add Answer to:
Mark which account categories apply to the
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