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TRANSACTIONS 1. Paid $4,200 for utilities. 2. Performed services for $21,000 on account. 3. Received $13,000 from charge account customers. 4. Paid salaries of $9,000
TRANSACTIONS 1. Paid $4,200 for utilities. 2. Performed services for $21,000 on account. 3. Received $13,000 from charge account customers. 4. Paid salaries of $9,000 to employees. 5. Paid $16,000 to a creditor on account. 6. Owner invested $180,000 in the business. 7. Purchased $53,400 of supplies on account. 8. Purchased equipment for $42,000 cash. 9. Paid $12,000 for rent in advance). 0. Performed services for $15,600 cash. Indicate the impact of each of the transactions on the fundamental accounting equation (Assets = Liabilities + Owner's Equity) by placing a ""to indicate an increase and a "D" to indicate a decrease. The first transaction is entered as an example. (If transaction causes one account to increase and another to decrease within the same classification of the accounting equation, select 1/D.) Liabilities Transaction 1. Assets D Owner's Equity D + 2. 3. 4. 5. 6. 7. 8. = 9. + 10
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