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for each activity indicate the impact on the accounting equation after doing so for all transactions, ensure that the accounting equation remains in the balance
for each activity indicate the impact on the accounting equation after doing so for all transactions, ensure that the accounting equation remains in the balance the first item is provided as an example
Below is a list of activities for Blue Angus Incorporated. Required: For each activity, indicate the impact on the accounting equation. After doing so for all transactions, ensure that the accounting equation remains in balance. The first item is provided as an example. (Decreases to account classifications should be entered as a negative.) Transaction Assets Liabilities Stockholders' Equity 1. Provide services to customers on account, $1,690 $ 1,690 $ 0 $ 1,690 2 Pay $430 for current month's rent es 3. Hire a new employee, who will be paid $590 at the end of each month 4. Pay $120 for advertising aired in the current period. 5. Purchase office supplies for $430 cash 6. Receive cash of $1,090 from customers in (1) above 7. Obtain a loan from the bank for $7,900. 8. Receive a bill of $580 for utility costs in the current period 9. Issue common stock for $10,900 cash. 10 Pay $590 to employee in (3) above Totals
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