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Analyzing the effect of transactions on the balance sheet.

Analyzing the Effect of Transactions on the Balance Sheet Following the example in a. below, indicate the effects of transactions b.through i on assets, iabilities, a identifying the individual accounts affected. a. Paid cash to acquire a computer for use in office ANSWER: Increase one asset, decrease another asset b. Rendered services and billed client c. Paid cash to cover rent for this period d. Rendered services to client for cash e. Received amount due from client in b f. Purchased an office desk on account g. Paid cash to cover this period's employee salaries h. Paid cash to cover desk purchased in f i. Declared and paid a cash dividend Please answer all parts of the questi Increase assets, increase equity Increase one asset, decrease another asset Increase assets, increase liabilities Decrease equity, decrease assets Save Answers Previous page Decrease liabilities, decrease assets Decrease equity, increase liabilities Decrease one liability, increase another liability Decrease liabilities, increase equity