Question
I NEED HELP WITH THIS ACCOUNTING PROBLEM (ACCOUNTING EQUATION AND ITS IMPACT) Identify the impact on the accounting equation of each of the following transactions.
I NEED HELP WITH THIS ACCOUNTING PROBLEM (ACCOUNTING EQUATION AND ITS IMPACT)
Identify the impact on the accounting equation of each of the following transactions.
1. Purchase office supplies on account - a) increase assets and increase liabilities b) increase assets and decrease liabilities c) increase liabilities and increase stockholder's equity d) increase assets and decrease stockholder's equity e) decrease assets and increase liabilities f) decrease assets and decrease stockholder's equity g) increase liabilities and decrease stockholder's equity
2. Paid secretary weekly salary - a) decrease assets and decrease stockholder's equity b) increase liabilities and decrease stockholder's equity c) increase liabilities and increase stockholder's equity d) increase assets and decrease stockholder's equity e) decrease assets and increase liabilities f) increase assets and increase liabilities g) increase assets and decrease assets
3. Purchased office furniture for cash - a) increase assets and decrease stockholder's equity b) increase assets and decrease assets c) increase assets and increase liabilities d) decrease assets and increase liabilities e) decrease assets and decrease stockholder's equity f) increase liabilities and increase stockholder's equity g) increase liabilities and decrease stockholder's equity
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