Indicate whether each transaction that follows caused an increase (+), a decrease (-), or no change (NC) in assets, liabilities, and stockholders’ equity.

1. Purchased supplies on credit.
2. Paid for previously purchased supplies.
3. Paid employee’s weekly wages.
4. Paid a dividend to stockholders.
5. Purchased a truck with cash.
6. Received a telephone bill to be paid next month.

Answer rating: 100% (QA)

Purchased supplies on credit Increase in assets Supplies ... View the full answer