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Exercise 2 - 4 ( Static ) Analyze the impact of transactions on the accounting equation ( LO 2 - 2 ) Boilermaker House Painting
Exercise Static Analyze the impact of transactions on the accounting equation LO
Boilermaker House Painting Company incurs the following transactions for September.
Required:
For each transaction, describe the dual effect on the accounting equation. For example, for the first transaction, assets increase and stockholders' equity increases.
tableTransactionsDual Effect Paint houses in the current month for $ on account.,Assets increase and stockholders' equity increases. Purchase painting equipment for $ cash., Purchase office supplies on account for $ Pay employee salaries of $ for the current month., Purchase advertising to appear in the current month, $ Pay office rent of $ for the current month., Receive $ from customers in above.,table Receive cash of $ in advance from a customer who plans to have his housepainted in the following month.
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