Transactions and Impacts

Complete the table below by indicating the effect (Increase, Decrease, or No Effect) on assets, liabilities, and net worth (an example has been provided).

Transactions Assets Liability Net worth

Pay miscellaneous expenses Decrease No effect Decrease

1) Received cash for providing

delivery services - EXAMPLE Increase No effect Increase

2) Paid amount owing that was

outstanding to a creditor.

3) Billed customers for delivery

services on account.

4) Purchased office furniture on account.

5) Paid advertising expense with cash.