Question
For each of the following, indicate whether the transaction increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and owners equity using
For each of the following, indicate whether the transaction increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and owners equity using the following format.
| Assets = Liabilities + Owner's Equity | Increased = (+) Decreased = (-) No effect = (NE) |
| transaction | Assets = | Liabilities + | owners Equity |
| 1. Invested to start the business. |
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| 2. Billed customers for services performed. |
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| 3. Purchased equipment on account. |
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| 4. Withdrew cash for personal use. |
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| 5. Paid for equipment purchased in 3. above. |
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| 6. Pay cash for the electricity bill. |
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