Homework Answers
Answer
| Business Transactions | Effects on accounting equation | ||||||||
| a. | Invested Cash in business | Increases assets and increases owner's Equity | |||||||
| b. | Paid for utilities used in the business | Decreases assets and decreases owner's Equity | |||||||
| c. | Purchased supplies for cash | Increases assets and decreases assets | |||||||
| d. | Purchased supplies on account | Increases assets and increases liability | |||||||
| e. | Received cash for service performed | Increases assets and increases owner's Equity | |||||||
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Obj. 4 EX 1-9 Effect of transactions on accounting equation What is the effect of each...
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scc
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