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Answer these problems please thank you 14. The Insurance Company purchased some equipment for $4,000 in stock, $5,000 in land, and $3,000 on credit. Account
Answer these problems pleasethank you 14. The Insurance Company purchased some equipment for $4,000 in stock, $5,000 in land, and $3,000 on credit. Account Effect on Account Debit Credit Equipment increase decrease Equity increase decrease Land increase decrease Accounts Payable increase decrease Account DB CR 15. The Insurance Company purchased $1,000 of liability insurance with cash for their vehicles. Account Effect on Account Debit/Credit Insurance Expense increase decrease Cash increase decrease Account DB CR Debit/Credit 16. The Insurance Company owes $3,459 in wages. Account Effect on Account Wages Expense increase decrease Wages Payable increase decrease Account DB CR 17. The Insurance Company was paid $12,000 in equipment for services provided. Account Effect on Account Debit/Credit Equipment increase decrease Service Revenue increase decrease Account DB CR 18. The Insurance Company was paid $12,000 in stock for services provided. Account Effect on Account Debit/Credit Stock increase decrease Service Revenue increase decrease Account DB CR Debit/Credit 19. The Insurance Company paid $2,000 in cash for rent Account Effect on Account Rent Expense increase decrease Cash increase decrease Account DB CR Debit/Credit 20. The Insurance Company paid $15,000 for equipment on credit Account Effect on Account Equipment increase decrease Accounts Payable increase decrease Account DB CR LLLLL
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