Question

. REQUIRED 1) PUT THE LETTER OF THE BUSINESS TRANSACTION FROM ONE TWO (+) AND DECREASES - FOR ASSETS, LIABILITIES & EQUITY SHOW TRANSACTION EFFECTS - 18 POINTS 2) NEXT UST THE FINANCIAL STATEMENTIS, THAT WOULD BE AFFECTED TRANSACTIONS: ABOVE THAT MATCHES NORMES SHOWN IN THE CHART BELOW A) Services are provided to a Customer and payment is received upon completion BE AFFECTED BY THE TRANSACTION B) Shareholders are paid a dividend WRITE YOUR OWN W A SIMPLE TRANSACTION IN THIS SPACE AND MATCH TO THE UND W ITH CHART BELOW. C) The Company purchased equipment with both cash and a loan. D) Employees work for The Company and are not paid their paychecks. Assets Liabilities Equity Equity 1) : LITTER: COM 2) Financal statements affected + AND - + Page #6

Answer 1

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Answer a

Services are provided to a customer. It is a revenue. It will increase equity.

Payment is received upon completion. It will increase cash. It will increase assets.

Answer b

Dividend is an expense. It will decrease cash. So it will decrease assets and equity.

Answer c

Equipment is purchased in both cash and loan. So Asset will increase and liability will increase.

Answer d

Employees are not paid yet. So liabilities will be accrued. So expense will increase. So liabilities will increase and equity will decrease.