Question: Olive Enterprises experienced the following events during 2016 1 Acquired cash

Olive Enterprises experienced the following events during 2016:
1. Acquired cash from the issue of common stock.
2. Paid cash to reduce the principal on a bank note.
3. Sold land for cash at an amount equal to its cost.
4. Provided services to clients for cash.
5. Paid utilities expenses with cash.
6. Paid a cash dividend to the stockholders.
Required
Explain how each of the events would affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation. The first event is shown as an example.



Sale on SolutionInn
Sales2
Views307
Comments
  • CreatedApril 20, 2015
  • Files Included
Post your question
5000