U A .XX A.B.A.A . . - Normal Heading 1 Heading 2 Headings ACC101/ACC 106 New Style Handout 1: Accounting in action Exercise 1 The following are transactions for Sameer new business during the month of September, we are going to see their effect on the basic accounting equation: 1- Sameer invested $15000 cash in the business 2- Purchase of equipment of $7000. 3- Purchase of supplies on credit of $1600. 4. Provide services of cash $1200. 5- Purchase of advertising on credit of $250. 6- Provide services of $3500, cash $2000 and $1500 billed on account. 7- Payment of expenses of cash $1700. 8- Payment of accounts payable of $250. 9. Receipt of cash from customers on account of $600. 10- Withdrawal of cash by owner of $1300. earch