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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Financial Accounting Reporting And Analysis

ISBN: 9780324149999

6th Edition

Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice

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