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As the manager of a Mama Bodhi's restaurant, you must deal with a vanety of business transactions. Give an example of a transaction that has
As the manager of a Mama Bodhi's restaurant, you must deal with a vanety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation: Effect on the Accounting Equation a Increase one asset and decrease another asset. b Decrease an asset and decrease equity. c Decrease an asset and decrease a liability. d Increase an asset and increase equity. e Increase an asset and increase a liability. Example Transaction Borrowed cash from the bank. Cash dividends paid to stockholders. Cash purchase of supplies. Paid cash on accounts payable. Received cash for services provided. The company declared a dividend.
As the manager of a Mama Bodhi's restaurant, you must deal with a vanety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation:
Effect on the Accounting Equation
a Increase one asset and decrease another asset.
b Decrease an asset and decrease equity.
c Decrease an asset and decrease a liability.
d Increase an asset and increase equity.
e Increase an asset and increase a liability.
Example Transaction
Borrowed cash from the bank.
Cash dividends paid to stockholders.
Cash purchase of supplies.
Paid cash on accounts payable.
Received cash for services provided.
The company declared a dividend.
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