Olive Enterprises experienced the following events during Year 3: 1. Acquired cash from the issue of...

 

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Olive Enterprises experienced the following events during Year 3: 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Required Indicate which of the above events occur in the equation by selecting the letter "|" for increase, the letter "D" for decrease, and "I/D" for increase and decrease in a particular component. Accounting equation components that are not affected by the events should be left blank. The first event is shown as an example. (Not all cells will require input.) OLIVE ENTERPRISES Accounting Equation Stockholders' Equity Event Number Assets = Liabilities + Common + Stock Retained Earnings 1. I 2. 3. || II II I + + + + + 4. II + + 5. = 6. = || ||| + + + + Olive Enterprises experienced the following events during Year 3: 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Required Indicate which of the above events occur in the equation by selecting the letter "|" for increase, the letter "D" for decrease, and "I/D" for increase and decrease in a particular component. Accounting equation components that are not affected by the events should be left blank. The first event is shown as an example. (Not all cells will require input.) OLIVE ENTERPRISES Accounting Equation Stockholders' Equity Event Number Assets = Liabilities + Common + Stock Retained Earnings 1. I 2. 3. || II II I + + + + + 4. II + + 5. = 6. = || ||| + + + +

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OLIVE ENTERPRISES Accounting Equation Event Number I D ID I D D Assets Event ... View the full answer