Question
Presented below are a number of transactions. Determine whether each transaction affects common stock, dividends, revenue, expense, or does not affect stockholders equity. Provide titles
Presented below are a number of transactions. Determine whether each transaction affects common stock, dividends, revenue, expense, or does not affect stockholders equity. Provide titles for the revenues and expenses. Select Not applicable for account title if neither a revenue nor an expense.
Transaction Affects Account Title (a) Costs incurred for advertising. (b) Cash received for services performed. (c) Costs incurred for insurance. (d) Amounts paid to employees. (e) Cash distributed to stockholders. (f) Cash received in exchange for allowing the use of the companys building. (g) Costs incurred for utilities used. (h) Cash purchase of equipment. (i) Cash received from investors.
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