For each transaction, indicate whether the total assets, liabilities or owner's equity will increase, decrease or did not change. If an item is not changed by the transaction, select the option "No Change."

TransactionAssetsLiabilitiesOwner's Equity1) Paid salaries and wages for the current month.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change2) Purchased equipment on credit.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change3) Purchased furniture using cash.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change4) Made an additional investment into the business.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change5) Received payment for services to be provided next month.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change6) Made partial payment for equipment purchased on credit.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change7) Billed customers for services performed.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change8) Withdrew cash for personal use.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change9) Received payment from customers already billed.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change10) Received bills for utilities to be paid next month.AnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo ChangeAnswerIncreaseDecreaseNo Change

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Jump to... Student Guide Tutorial: Introduction Introduction PPT News Forum Templates Zipped File (Excel) Templates Zipped File (Word) Digital Textbook Workbook Student Edition (E-book) Workbook Student Edition (PDF) Correction Notice to Students Tutorial: The Meaning of Accounting Tutorial: The Balance Sheet Tutorial: The Income Statement Tutorial: The Accounting Equation Tutorial: Accrual-Based Accounting Tutorial: Borrowing Money and Repaying Debt Tutorial: Buying Assets Tutorial: Prepaid Expenses Chapter 1 Quiz Chapter 1 Post-Class Homework Chapter 1 PPT - Financial Accounting in Your Personal Life Chapter 1 - Workbook Exercises (PDF) Tutorial: Business Accounts Tutorial: Owner's Equity Tutorial: Recording Revenue Tutorial: Recording Expenses Chapter 2 Quiz Chapter 2 PPT - Linking Personal Accounting to Business Accounting Chapter 2 - Workbook Exercises (PDF) Tutorial: Forms of Organization Tutorial: The Conceptual Framework Tutorial: ASPE vs IFRS Chapter 3 Quiz Chapter 3 Post-Class Homework Chapter 3 PPT - The Accounting Environment Chapter 3 - Workbook Exercises (PDF)

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[Humber 01/2023] BACC 152 0XC - Ratkai

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