Transaction analysis—nonquantitative Indicate the effect of each of the following transactions on total assets, total liabilities, and total owners’ equity. Use + for increase, - for decrease, and (NE) for no effect. The first transaction is provided as an illustration.
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| Assets | Liabilities | Owners’ Equity |
a. | Borrowed cash on a bank loan | + | + | NE |
b. | Paid an account payable |
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c. | Sold common stock |
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d. | Purchased merchandise inventory on account |
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e. | Declared and paid dividends |
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f. | Collected an account receivable |
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g. | Sold merchandise inventory on account at a profit. . |
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h. | Paid operating expenses in cash |
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i. | Repaid principal and interest on a bank loan |
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