a. c. Using the table provided, state what type of account the following accounts are and state which financial statement each is reported on. If an item appears on more than one financial statement, state all that applies. (4 pts) Merchandise inventory b. D. Flowers, drawings Fees earned d. Accumulated depreciation (B) For each of the following transactions, state the effects on the accounting equation using the table provided. An example is shown: (6 pts) Example: The owner withdrew cash for personal use. Purchased supplies on account. b. Performed services on account. Paid a creditor. d. Paid rent expense. The owner invested in the business. A customer paid on account. a. c. e. Av B 1 F DI G (a) Account name Type of account Financial statement it belongs merchandise inventory D. Flowers, drawings Fees earned Accumulated depreciation (b) GE Av BIF T. Transaction Assets Liabilities Owner's equity decrease decrease Example: The owner withdrew cash for personal use. a. Purchased supplies on account. b. Performed services on account. c. Paid a creditor. d. Paid rent expense. e. The owner invested in the business. f. A customer paid on account. Previous page Next pe