For each transaction below, identify the effect on the accounting equation. Select the multiple choice answer...

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For each transaction below, identify the effect on the accounting equation. Select the multiple choice answer that corresponds to your answers. Assets increase, Liabilities increase Assets increase, Stockholders Equity increases Liabilities increase, Stockholders Equity decreases Liabilities decrease, Assets decrease 5. Liabilities decrease, Stockholders Equity increases 6. Assets decrease, Stockholders Equity decreases 1. 2. 3. 4. Supplies are purchased on credit. Services are provided for customers who will pay at a later date. Owners invest $20,000 into their business. A customer pre-pays for services that will be provided at a later date. An adjustment is made for supplies used during the period. Select one: a. 1,4,2,1,6 b. 1,2,2,2 5 c. 1,2,2,1,6 d. None of the above e. 1,2,2,2,6 For each transaction below, identify the effect on the accounting equation. Select the multiple choice answer that corresponds to your answers. Assets increase, Liabilities increase Assets increase, Stockholders Equity increases Liabilities increase, Stockholders Equity decreases Liabilities decrease, Assets decrease 5. Liabilities decrease, Stockholders Equity increases 6. Assets decrease, Stockholders Equity decreases 1. 2. 3. 4. Supplies are purchased on credit. Services are provided for customers who will pay at a later date. Owners invest $20,000 into their business. A customer pre-pays for services that will be provided at a later date. An adjustment is made for supplies used during the period. Select one: a. 1,4,2,1,6 b. 1,2,2,2 5 c. 1,2,2,1,6 d. None of the above e. 1,2,2,2,6

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Answer c 12216 Workings General Journal Assets Liabilities St... View the full answer