Presented below are three economic events. Create a table with rows (a), (b), and (c), and columns

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Presented below are three economic events. Create a table with rows (a), (b), and (c), and columns for assets, liabilities, and stockholders’ equity. In each column, indicate whether the event increased (+), decreased (−), or had no effect (NE) on assets, liabilities, and stockholders’ equity.

a. Stockholders invested cash in the business for common stock.

b. Paid a cash dividend.

c. Received cash from a customer who had previously been billed for services performed.

Classify items affecting stockholders’ equity.

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Survey Of Accounting

ISBN: 9781119594536

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt

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