Question: business transaction have a dual or double effect they affect two or more accounts but leave the accounting equation in balance identify a transaction for

business transaction have a dual or double effect they affect two or more accounts but leave the accounting equation in balance identify a transaction for each of the following equation changes

Business transactions have a dual, or double, effect. (They affect two or more accounts but leave the accounting equation in balance.) Identify a transaction for each of the following accounting equation changes. Examples Accounting equation: Assets (A) = Liabilities (L) + Owners' equity (OE) Equation's effect (a) AT = LT (b) AT = OET (c) At=AL (d) AL=LV (e) Ad = OEL (1) LT = OEU (g) L = OET

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The chart of accounts of Angels Delivery Service of Flin Flon includes the following: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery Trucks, 122; Accounts Payable, 211; Alice...

Hotel and Restaurant Accounting Practice Tests This booklet contains self-graded practice tests for every chapter in Hotel and Restaurant Accounting, Eighth Edition. Chapter 1 Accounting: A...

Accounting Multiple Choice Questions 1. When a business transaction is analyzed a. only two of the balance sheet items must change. b. the accounting equation may no longer be in balance. c. at least...

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $27,810 of cleaning services on...

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation Events Affecting Year 1 1. Provided $27.520 of cleaning services on...

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 Provided $32,260 of cleaning services on...

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $25,560 of cleaning services on...

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $45,000 of cleaning services on...

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $33,740 of cleaning services on...

Rosle Dry Cleaning wes started on January 1, Year 1. t experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $31,420 of cleaning services on...

Jerimiah Electronics completed these selected transactions during September 2018 (Click the icon to view the transactions.) Requirement 1. Report these items on Jerimiah Electronics' balance sheet at...

Find d y d x at x = 0 given y = 1 - 2 + u 2 and u = 2 x + 1 .

A line of charge with uniform density 35.0 nC/m lies along the line y = -15.0 cm, between the points with coordinates x = 0 and x = 40.0 cm. Find the electric field it creates at the origin.

Determine the moment of inertia for the ellipsoid with respect to the x axis and express the result in terms of the mass m of the ellipsoid. The material has a constant density . dx

A certain pipe produces a fundamental frequency of 262 Hz in air. (a) If the pipe is filled with helium at the same temperature, what fundamental frequency does it produce? (The molar mass of air is...

Determine the largest mass of cylinder A that can be supported from the drum if a force P is applied to the handle of the lever. The coefficient of static friction between the belt and the wheel is...

Determine the directions of the principal axes with origin located at point O, and the principal moments of inertia for the area about these axes. Given: a = 4 in b = 2 in c = 2 in d = 2 in r = 1 in a

Explain how employees are motivated according to Maslow s hierarchy of needs.

Working individually or in groups, use the point system described in steps 1 to 16 in this chapter. Do so for a job description that you find onlinethe list at http://hiring...

Review our discussion of competencies in Chapter 4; then write three competency statements for one job you believe they would have at a company such as JLG. A useful competency statement includes...

Appendix A, PHR and SPHR Knowledge Base, at the end of this book (pages 580588) lists the knowledge someone studying for the HRCI certification exam needs to have in each area of human resource...