Chapter 1 LO 2, 3 Exercise 1-10A/ Effect of events on the accounting equation Hansen Enterprises experienced the following events during 2013: r. Acquired cash from the issue of common stock. 2. Provided services to clients for cash. 3. Paid utilities expenses with cash. 4. Paid cash to reduce the principal on a bank note. 5. Sold land for cash at an amount equal to its cost. 6. Paid a cash dividend to the stockholders. Required Explain how each of the events would affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation. The first event is shown as an example. Stockholders' Equity Event Number Assets = Liabilities + Common Stock Retained + Earnings NA NA