Analyze the transactions of a business organized as a proprietorship

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.

$2$

Assets $=$ Liabilities $+$ Equity

$1.$ Received cash for services delivered. $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$2.$ Purchased office equipment on credit$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$3.$ 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 credit. $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$8.$ Paid dividends. $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$9.$ Obtained a loan from the bank. $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$10.$ Billed customers for services rendered. $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$