Transactions that affect the elements of financial statements
Required
Give an example of a transaction that will
a. Increase an asset and decrease another asset (asset exchange event).
b. Increase an asset and increase a liability (asset source event).
c. Decrease an asset and decrease a liability (asset use event).
d. Decrease an asset and decrease equity (asset use event).
e. Increase a liability and decrease equity (claims exchange event).
f. Increase an asset and increase equity (asset source event).
g. Decrease a liability and increase equity (claims exchange event).
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