Question
Indicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity). Enter the exact amount of the
Indicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity). Enter the exact amount of the transaction or 0 for No Effect in the 3rd box of each line. Do not include the dollar sign.
Received $4,630 cash from investors and issued common stock to them.
Assets: Answer_____Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.
Answer_____: Select One: Increase, Decrease, No Effect.
Answer____
Liabilities: Answer_____: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.
Answer______Select One: Increase, Decrease, No Effect.
Answer____
Shareholders' Equity: Answer______: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.
Answer______: Select One: Increase, Decrease, No Effect.
Answer_____
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