Indicate the impact of each of the transactions below on the fundamental accounting equation (Assets = Liabilities + Owner's Equity)

Question:

Indicate the impact of each of the transactions below on the fundamental accounting equation (Assets = Liabilities + Owner's Equity) by placing a "+" to indicate an increase and a "ˆ’" to indicate a decrease. The first transaction is entered as an example.
Indicate the impact of each of the transactions below on

TRANSACTIONS
1. Paid $2,100 for utilities.
2. Performed services for $10,500 on account.
3. Received $6,500 from charge account customers.
4. Paid salaries of $4,500 to employees.
5. Paid $8,000 to a creditor on account.
6. Owner invested $90,000 in the business.
7. Purchased $26,700 of supplies on account.
8. Purchased equipment for $21,000 cash.
9. Paid $6,000 for rent (in advance).
10. Performed services for $7,800 cash

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Related Book For  answer-question

College Accounting A Contemporary Approach

ISBN: 978-0077639730

4th edition

Authors: David Haddock, John Price, Michael Farina

Question Details
Chapter # 2- Analyzing Business Transactions
Section: Exercises
Problem: 3
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Question Posted: June 24, 2017 08:33:14