Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso. Trenholm. Irvine, and Burnlev Brief Exercise 3-1 a-b Presented below are a number of transactions. 1. Purchased equipment for cash. 2 Completed the paperwork to hire a new employee; the employee will start work next week. 3. Fired the CEO. 4. Performed services on account. A potential customer called to inquire about the availability of a s product with limited availability and you are sure they will call back to place an order within the week. Indicate whether each transaction increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and shareholders' equity. Assets Liabilities Shareholders' Equity 1. 2. 3 5. Which of the following are accounting transactions that should be recorded in the accounting records? are accounting transactions that should be recorded in the Sant (+) (-) NE (+) (-) NEXT 2. S Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso. Trenholm. Trvine, and Burnlev Brief Exercise 3-1 a-b Presented below are a number of transactions. 1. Purchased equipment for cash. Completed the paperwork to hire a new employee; the employee will start work next week. 3. Fired the CEO. - Performed services on account A potential customer called to inquire about the availability of a s product with limited availability and you are sure they will call back to place an order within the week. Indicate whether each transaction increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and shareholders' equity. Assets Liabilities Shareholders' Equity LINK TO TEXT Which of the following are accounting transactions that should be recorded in the accounting records? are accounting transactions that should be recorded in the st (-) NE (+) (+) (-) Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso. Trenholm. Irvine, and Burnlev Brief Exercise 3-1 ab Presented below are a number of transactions. 1. Purchased equipment for cash. Completed the paperwork to hire a new employee; the employee will start work next week. 3. Fired the CEO. 4. Performed services on account A potential customer called to inquire about the availability of a s product with limited availability and you are sure they will call back to place an order within the week. Indicate whether each transaction increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and shareholders' equity. Liabilities Shareholders' Equity Assets LINK TO TEXT Which of the following are accounting transactions that should be recorded in the accounting records? are accounting transactions that should be recorded in the 55 (+) (-) NE (-) (+) Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso. Trenholm. Irvine, and Burnlev Brief Exercise 3-1 a-b Presented below are a number of transactions. 1. Purchased equipment for cash. Completed the paperwork to hire a new employee; the employee will start work next week. 3. Fired the CEO. 4. Performed services on account. A potential customer called to inquire about the availability of a s product with limited availability and you are sure they will call back to place an order within the week. Indicate whether each transaction increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and shareholders' equity. Liabilities Shareholders' Equity 1. 2. 4 LINE TEXT Which of the following are accounting transactions that should be recorded in the accounting records? are accounting transactions that should be recorded in the accounting records. at Items 1 and 2 Items 1 and 3 Items 1 and 4 Items 1 and 5
