Question

The following is a list of independent economic events:
1. Purchased inventory on account.
2. Paid dividends at the end of the year.
3. Received cash in payment for services.
4. Issued common stock for cash.
5. Paid rent in cash.
6. Received a bill for utilities incurred.
7. Bought equipment for cash.
8. Billed customers for services.
Required
Indicate a) the accounts that would be affected by each transaction and b) whether each transaction increases, decreases, or has no effect on assets, liabilities, and stockholders' equity.


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  • CreatedJuly 16, 2015
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