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Analyze the effect of the following transactions on the accounting equation. a. The company paid $725 to a vendor for supplies purchased previously on account.
Analyze the effect of the following transactions on the accounting equation. a. The company paid $725 to a vendor for supplies purchased previously on account. b. The company performed $850 of services and billed the customer. C. The company received a utility bill for $395 and will pay it next month d. The company paid dividends of $145 e. The company paid $315 in salaries to its employees. f. The company collected 730 of cash from its customers on account. Some of the possible effects of a transaction on the accounting equation are listed below 1. Assets, Dr.; Assets, Cr. 2. Assets, Dr.; Liabilities, Cr 3. Assets, Dr.; Revenues, Cr 4. Liabilities, Dr.; Assets, Cr. 5. Dividends, Dr.; Assets, Cr 6. Expenses, Dr.; Assets, Cr 7. Expenses, Dr.; Liabilities, Cr. Select the appropriate number next to each transaction below: a. The company paid $725 to a vendor for supplies purchased previously on account. b. The company performed $850 of services and billed the customer c. The company received a utility bill for $395 and will pay it next month. d. The company paid dividends of $145. e. The company paid $315 in salaries to its employees. f. The company collected $730 of cash from its customers on account
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