Question

eBook Calculator Transactions The selected transactions below were completed by Silverado Delivery Service during February: Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list: a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability. c. Increase in an asset, increase in owner's equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in owner's equity. 1. Received cash from owner as additional investment, $25,000. CV 2. Purchased supplies for cash, $750. a 3. Pald rent for February, $3,000. 4. Paid advertising expense, $1,500. e ✓ 5. Received cash for providing delivery services, $16,800. 6. Billed customers for delivery services on account, $32,500. Check My Work 1 more Check My Work uses remaining

Answer 1

Here I am answering the unfilled blanks. (question 9 & 10) Answer to Question 9: $475 of Supplies used during the month. It reflects "Decrease in an asset, decrease in ouner's equity" So, Correct Answer "e" Answer to Question 10: Paid Cash to owner for personal use, $5000. It reflect "Decrease in an asset, decrease in owner's equity" So, Correct Answer "e"