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E3-16 (Static) Determining Accounting Equation Effects of Several Transactions [LO 3-2, LO 3-3] the effects on the accourting eqaation under the accual basis A sample
E3-16 (Static) Determining Accounting Equation Effects of Several Transactions [LO 3-2, LO 3-3] the effects on the accourting eqaation under the accual basis A sample is piovided 2. (Swmple) Recethed $9.500 cash for consulting services rendered in January b issued common slock to investors for $10,000 cast c. Purchased $12.000 of equiprient, paying 25 percent in cash and oweng the rest on a nole due in two years d Aeceived $7,500 cash for consulting services to be performed in Febouary e. Bought and received $1,000 of supplies on account. t Receved utilty bill for January for $1,250 due february 15 9. Consulted for customess in January for fees totwing $15,900, due in Febraary h. Recelwed $12.000 cash for consulting services tendered in December. 1. Pald $500 towacd supples puichased in (c) Required: indicate the accounts, amounts, and direction of the effects on the accounting equation under Bhe accrual bask. A sample is provided. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) e: Bought and recewed $1,000 of supples on account 2 Received utaty ball for Janeary for $1250, due February $5. g. Consulted for customeis in January for fees totaling $15,900, doe in February h. Pecetved $12000 cash for comsuting setvices rendered in December 2 Pald $500 soward stupples purchased in fer Required: Indicale the accounts, amounts, and iscection of the effects on the accounting equation under the accrual bash A sanple is provided. (Enter any decresses to Assets, Linbilities, and Stockholder's Equity with s minus sign.)
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