1. Complete the following table by indicating the effects of the following transactions on the balance sheet. Do so by recording an I for an increase, a D for a decrease, and N/C for no change in assets, liabilities, and shareholders equity for each transaction.

Acquired office supplies inventory on credit.

Purchased land for cash.

Earned revenue (receiving cash) by providing consulting services.

Incurred, but did not pay for, business operating expense.

Paid for the office supplies purchased in number 1 above with cash.

Transaction	Assets	Liabilities	Shareholders Equity
1.
2.
3.
4.
5.