Fill out the following chart to show the impact on the accounting equation from each transaction. iablities
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Fill out the following chart to show the impact on the accounting equation from each transaction.
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iablities Stockholders' equity Increase Decrease Increase Decrease Increase Decrease Assets Date Description Jan 2 Purchased office supplies on account for $500 Jan 4 Issued common stock for cash for $5,000 Jan 10 Sold services on account for $2,000 Jan 15 Paid amount owed to vendor for the office supplies purchased on account on January 2 Jan 18 Sold services for cash $200 Jan 21 Received cash for payment on account from sale on January 10 Jan 31 Paid employees for monthly payroll $1,.500
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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