Below is a list of activities. Required: For each activity, indicate whether the transaction increases, decreases, or
Question:
Below is a list of activities.
Required:
For each activity, indicate whether the transaction increases, decreases, or has no effect on assets, liabilities, and/or stockholders’equity.
Transcribed Image Text:
Stockholdes Assets - Liabilities + Increase Increase No Efect Transaction Equity . Obtain a loan at the bank 2. Issue common stock to stockholders for cash 3. Purchase equipment for cash 4. Pay cash for insurance in advance 5. Pay cash for workers salaries in the cument period 6. Pay accounts payable 7. Purchase office supplies on account 8. Provide services to customers for cash. 9. Provide services to customers on account 10. Pay cash dividends to stockholders 11. Pay cash for utilities in the current period
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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