Indicate how each business transaction affects the basic accounting equation. (a) Paid cash for janitorial services. (b)

Question:

Indicate how each business transaction affects the basic accounting equation.
(a) Paid cash for janitorial services.
(b) Purchased equipment for cash.
(c) Issued to investors in exchange for cash.
(d) Paid an account payable in full.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...