a. Provided service for cash Assets = Liabilities + Owners Equity Does Assets increase or decrease or

Question:

a. Provided service for cash

Assets = Liabilities + Owners Equity

Does Assets increase or decrease or no change

Does Liabilities increase or decrease or no change

Does Owners Equity increase decrease or no change?

b. Please describe how the following transaction affects the accounting equation:

Purchase inventory for Cash.

Assets = Liabilities + Owners Equity

Does Assets increase or decrease or no change

Does Liabilities increase or decrease or no change

Does Owners Equity increase decrease or no change?

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Accounting Principles Part 1

ISBN: 978-1118306789

6th Canadian edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Feb 08, 2013 02:19 AM

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a. Provided service for cash Assets = Liabilities + Owners Equity Does Assets increase or decrease or

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a Services are rendered for cash Journal entry is Cash AcDr To Sales Revenu...View the full answer

Accounting Principles Part 1

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