Comprehension Problems CP 1-1 The following list covers many of the types of financial transactions. Notice that each transaction has an equal and offsetting effect on the accounting equation. Types of accounting transactions ASSETS = LIABILITIES + STOCKHOLDERS' EQUITY 1. (+) 9. (-) 2. ( + ) ( + ) (-) 3. ( + ) (-) (- ) ( + ) 4. (-) ( + ) (+)(- 5. (-) (-) 6. (+)(- 7 . 8. (+) Required: Using the appropriate accounting equation, study the following transactions and identify the effect of each on assets, liabilities and stockholders' equity, as applicable. Use a (+) to denote an increase and a (-) to denote a decrease, if any. A = L+E