Question: a. One a separate sheet paper, complete the following chart to show the effect of these transactions on the accounting equation and compute the net

a. One a separate sheet paper, complete the following chart to show the effect of these transactions on the accounting equation and compute the net effect (dollars in millions).

b. Compare and discuss how transactions 2 and 3 affected the basic accountingequation.

Assets = Liabilities + Shareholders' Equity Transaction 1. Repaid S15 of long-term debt. Paid cash dividends of S201. 3. Repurchased common stock for Net effect $379.

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