Analyze the transactions of a business organized as a corporation described below and indicate their effect on the basic accounting equation. Use a plus sign (+) to indicate an increase and a minus sign (–) to indicate a decrease.

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1. Received cash for services provided 2. Purchased office equipment on credit 3. Paid employees' salaries 4. Received cash from customer in payment on account 5. Paid telephone bill for the month 6. Paid for office equipment purchased in transaction 2 7. Purchased office supplies on credit 8. Paid dividends 9. Obtained a loan from the bank 10. Billed customers for services rendered Assets Liabilities + Stockholders' Equity