Describe a transaction that resulted in each of the following entries affecting the accounting equation. Liabilities +
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Describe a transaction that resulted in each of the following entries affecting the accounting equation.
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Liabilities + Owner's Equity Assets Office Professional Accounts Cash + Equipment + Equipment - Payable + B. Lake, Capital (a) +18,200 +18,200 (b) -1,375 +1,375 Bal. 16,825 1,375 18,200 (c) +640 +640 Bal. 16,825+ 1,375 18,200 640 640 (d) -2,200 +7,000 +4,800 Bal. 14,625 + 8,375 5,440 640 18,200 +. (e) -1,000 -1,000 Bal. 13,625 + 8,375 640 4,440 18.200 22,640 22,640
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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