Basic Accounting Equation Matching e. Match the following transactions with their affects to the accounting equation, a. Increase assets, increase liabilities b. Increase liabilities, decrease owner's equity c. Increase assets, increase owner's equity d. No affect Decrease assets, decrease liabilities f. Decrease assets, decrease owner's equity 1. Received cash for services provided 2. Received utility invoice to be paid next month 3. Investment of land by owner 4. Paid part of an amount owed to a creditor 5. Paid cash for the purchase of a one year insurance policy 6. Received payment from a customer for an invoice that was billed last month 7. Cash withdrawal by owner 8. Provided a service to a customer on account 9. Purchased supplies on credit 10. Paid wages