Presented below 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 (1), decreased (2), 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.

AppendixLO1