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Use the following to answer questions 6-8 Analyze each transaction. Under each category in the accounting equation, indicate whether the transaction: A. increases, B. decreases,
Use the following to answer questions 6-8 Analyze each transaction. Under each category in the accounting equation, indicate whether the transaction: A. increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to increase, Assets increase, and no effect on Liabilities). 6. Issued stock to owners. 7. Recorded and paid employees their salaries for the month. 8. Purchased a new office building using a long term note. Asset Liability Stockholders' Equity c TA (a) 6. 8
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