Presented on page 135 are three economic events. On a sheet of paper, list the letters (a),

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Presented on page 135 are three economic events. On a sheet of paper, list the letters (a), (b), and

(c) with columns for assets, liabilities, and stockholders’ equity. In each column, indicate whether the event increased (+), decreased (—), or had no effect

(NE) on assets, liabilities, and stockholders’ equity.

(a) Purchased supplies on account.

(b) Received cash for providing a service.

(c) Expenses paid in cash.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471730514

4th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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