Problem $1-30$B Classifying events as asset source, use, or exchange

The following unrelated events are typical of those experienced by business entities:

Pay cash for operating expenses.

Pay an office manager$$s salary with cash.

Receive cash for services that have been performed.

Pay cash for utilities expense.

Acquire land by accepting a liability $($financing the purchase$).$

Pay cash to purchase a new office building.

Discuss plans for a new office building with an architect.

Repay part of a bank loan.

Acquire cash by issuing common stock.

Purchase land with cash.

Purchase equipment with cash.

Pay monthly rent on an office building.

Hire a new office manager.

Borrow cash from a bank.

Pay a cash dividend to stockholders.

Required

Identify each of the events as an asset source, use, or exchange transaction. Also, indicate for each event the impact on total assets by selecting the letter $$I$$ for increase, the letter $$D$$ for decrease, $$I$/$D$$ for increase in one asset account and decrease in another asset account, and $$NA$$ for does not affect. The first event is shown as an example.

Table Summary: Table has $3$ columns. Column $1$ titled Event has a number. Column $2$ titled Type of Event reads Asset use. Column $3$ titled Effect on Total Assets reads Decrease.

Event Type of Event Effect on Total Assets

$1.$ Asset use Decrease