Question
During the month of August 2019, Coco Chanel made the following transactions. For each transaction, indicate whether assets (A), Liabilities (L) or owner's equity (OE)
During the month of August 2019, Coco Chanel made the following transactions. For each transaction, indicate whether assets (A), Liabilities (L) or owner's equity (OE) increased (+), Decreased (-) or did not change (0) by placing the appropriate sing in the appropriate column.
A L OE
1 Deposited money under the name of the business ? ? ?
2 Acquired a service vehicle on account
3 Purchased supplies for cash
4 Rendered services to Alonso Delfonso for cash
5 Provided services to Claro Olei on account.
6 Hired a bookkeeper.
7 The owner withdrew cash for personal use
8 Made an additional investment into the business
9 Collected cash from Claro Olei
10 Paid salaries of bookkeeper
11 Paid rent for 12 months.
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