1. Analyze the transactions of a business organized as a corporation described below and indicate their effect on the basic accounting equation. Use a plus sign (+) to indicate an increase and a minus sign (-) to indicate a decrease.

Stockholders'

Assets=Liabilities+Equity

1.Received cash for services rendered. _______ _______ _______

2.Purchased office equipment on account. _______ _______ _______

3.Paid employees' salaries. _______ _______ _______

4.Received cash from customer in payment

on account. _______ _______ _______.

5.Paid telephone bill for the month. _______ _______ _______

6.Paid for office equipment purchased in

transaction 2. _____________________

7.Purchased office supplies on account. _____________________

8.Dividends were paid. _____________________

9.Obtained a loan from the bank. _____________________

10.Billed customers for services rendered._____________________