BA 211 - Unit 1 Review Exercise Instructions: Analyze the following transactions. Decide how each transaction affects the Accounting Equation. Draw an up arrow or down arrow under the appropriate category (Asset, Liability or Owner Equity) OE 2 3 4 5 6 7 8 9 Sell shares of common stock for $25,000 Borrow $10,000 from bank (bank loan) Purchase equipment for $24,000 cash. Pay one year of rent in advance, $6,000 ($500 per month). Purchase supplies on account, $2,300. Provide soccer training to customers for cash, $4,300. Provide soccer training to customers on account, $2,000. Receive cash in advance for training sessions to be given in the future, $600. Pay salaries to employees, $2,800. 10 Pay cash dividends of $200 to shareholders. Assets = Liabilities + A

Instructions: Analyze the following transactions. Decide how each transaction affects the Accounting Equation. Draw an up arrow or down arrow under the appropriate category (Asset, Liability or Owner Equity) Instructions: Analyze the following transactions, Decide how each transaction affects the Accounting Equation. Draw an up arrow or down arrow under the appropriate category (Asset, Liability or Owner Equity)