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Analyze the Effect of Transactions on Assets, Liabilities, and Equity Georgia Corporation entered into the following transactions during May. Purchased computer terminals for $ 2
Analyze the Effect of Transactions on Assets, Liabilities, and Equity
Georgia Corporation entered into the following transactions during May.
Purchased computer terminals for $ from TSM company on account.
Paid TaiYen Power Company $ cash for energy usage in May.
Received $ cash from customers for contracts billed in April.
Shareholders invested an additional $ in the business.
Paid $ cash for May rent on storage space.
Performed computer services to Starwood Recreation Corporation for $ cash.
Paid TSM Company for the terminals purchased in above.
Incurred advertising expense for May of $ on account.
Indicate with the appropriate letter whether each of the transactions above results in:
a An increase in assets and a decrease in assets.
b An increase in assets and an increase in equity.
c An increase in assets and an increase in liabilities.
d A decrease in assets and a decrease in equity.
e A decrease in assets and a decrease in liabilities.
f An increase in liabilities and a decrease in equity.
g An increase in equity and a decrease in liabilities.
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