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Presented below are three economic events. In each column, indicate whether the event increased, decreased, or had no effect on assets, liabilities, and stockholders equity.

Presented below are three economic events. In each column, indicate whether the event increased, decreased, or had no effect on assets, liabilities, and stockholders’ equity.
 

    Assets Liabilities Stockholders’ Equity
(a) Purchased supplies on account. Entry field with incorrect answer Decreased No Effect Increased Entry field with correct answer Increased No Effect Decreased Entry field with incorrect answer Decreased Increased No Effect
(b) Received cash for providing a service. Entry field with correct answer Increased No Effect Decreased Entry field with correct answer Increased No Effect Decreased Entry field with incorrect answer No Effect Increased Decreased
(c) Expenses paid in cash. Entry field with incorrect answer Increased Decreased No Effect Entry field with incorrect answer Decreased No Effect Increased Entry field with correct answer Increased Decreased No Effect

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