WORK TOGETHER 1 - 3 Determining how transactions change an accounting equation Write the answers to the following problem in the Working Papers. Your instructor will guide you through the following example. 1. Place a plus (+) in the appropriate column if the account is increased. Place a minus (-) in the appropriate column if the account is decreased. Assets Liabilities + Owner's Equity Trans. Cash + No. Accts. Rec.- Bowman Co. + Supplies + Prepaid Insurance Accts. Pay.-- + Susan Sanders, Maxwell Co. Capital 1. Transactions: 1. Received cash from sales. 2. Sold services on account to Bowman Company. 3. Paid cash for telephone bill. 4. Received cash on account from Bowman Company. 5. Paid cash to owner for personal use. WORK TOGETHER 1 - 3 Determining how transactions change an accounting equation Write the answers to the following problem in the Working Papers. Your instructor will guide you through the following example. 1. Place a plus (+) in the appropriate column if the account is increased. Place a minus (-) in the appropriate column if the account is decreased. Assets Liabilities + Owner's Equity Trans. Cash + No. Accts. Rec.- Bowman Co. + Supplies + Prepaid Insurance Accts. Pay.-- + Susan Sanders, Maxwell Co. Capital 1. Transactions: 1. Received cash from sales. 2. Sold services on account to Bowman Company. 3. Paid cash for telephone bill. 4. Received cash on account from Bowman Company. 5. Paid cash to owner for personal use. WORK TOGETHER 1 - 2 Determining how transactions change an accounting equation Write the answers to the following problem in the Working Papers. Your instructor will guide you through the following example. Trans. No. Assets Liabilities + Owner's Equity 1. 1. For each transaction, place a plus (+) in the appropriate column if the classification is increased. Place a minus (-) in the appropriate column if the classification is decreased. Transactions: 1. Bought supplies on account. 3. Paid cash for insurance, 2. Received cash from owner as an investment. 4. Paid cash on account. ON YOUR OWN 1 - 2 Determining how transactions change an accounting equation Write the answers to the following problem in the Working Papers. Work this problem independently. Assets Liabilities Trans. No. 1. + Owner's Equity 1. For each transaction, place a plus (+) in the appropriate column if the classification is increased. Place a minus (-) in the appropriate column if the classification is decreased. Transactions: 1. Received cash from owner as an investment. 4. Paid cash for insurance. 2. Bought supplies on account. 5. Paid cash on account. 3. Paid cash for supplies. ON YOUR OWN 1-3 Determining how transactions change an accounting equation Write the answers to the following problem in the Working Papers.Work this problem independently. 1. Place a plus (+) in the appropriate column if the account is increased. Place a minus (-) in the appropriate column if the account is decreased. Liabilities + Owner's Equity Assets Cash + Trans. No. 1. Accts. Rec.- Navarro Co. + Supplies + Prepaid Insurance Accts. Pay. Barrett Co. + Vincent Orr, Capital Transactions: 1. Sold services on account to Navarro Company 2. Received cash from sales. 3. Received cash on account from Navarro Company. 4. Paid cash to owner for personal use. 5. Paid cash for rent