Indicate the effects [(1) increase, (2) decrease, (0) no effect] on the accounting equation from the following
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Indicate the effects [(1) increase, (2) decrease, (0) no effect] on the accounting equation from the following transactions: p-968
a. Owner invested cash in the business.
b. Performed services for cash.
c. Purchased equipment by signing a note payable.
d. Customers paid in advance for services to be performed.
e. Purchased a two-year insurance policy.
f. Paid employees for the period’s work.
g. Purchased supplies on account.
h. Performed services referred to in part d.
i. Paid note from part c in full, plus interest.
j. Recorded depreciation adjustment.
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Related Book For
Financial Accounting Reporting And Analysis
ISBN: 9780324149999
6th Edition
Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice
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