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- 2 B . Transaction Analysis Following the example shown in ( a ) below, indicate the effects of the listed transactions on the assets,
B Transaction Analysis Following the example shown in a below, indicate the effects of the listed transactions on the assets, liabilities, and stockholders' equity of John Dallmus, certified public accountant, a corporation:
a Purchased, for cash, a desktop computer for use in the office.
ANSWER: Increase assets Office Equipment
Decrease assets Cash
b Rendered accounting services and billed client.
c Paid utilities for month.
d Rendered tax services to client for cash.
e Received amount due from client in Transaction b
f Purchased a copying machine on account.
g Paid employees' salaries for the month.
h Paid for copying machine purchased in Transaction f
i The company paid a dividend.
EB Analysis of Accounts Compute the unknown amount required in each of the following five independent situations. The answer to situation a is given as an illustration:
a
tableAccounttableBeginningBalancetableEndingBalanceOther InformationAccounts payable tabletabletabletabletableBorrowed funds by issuing a note, $Payments on account, $Stockholders equity tablePayments on account, $Capital contribution, $
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