Indicate how each of the following transactions af- fects the accounting equation. a. Purchase of supplies on

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Indicate how each of the following transactions af- fects the accounting equation.

a. Purchase of supplies on account.

b. Payment of wages.

c. Cash sales.

d. Payment of monthly utility bills.

e. Purchase of a building with a down payment of cash plus a mortgage.

f. Cash investment by a stockholder. g. Payment of a cash dividend. h. Sale of goods on account for more than their cost. i. Sale of land at less than its cost.

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Survey Of Accounting

ISBN: 9780538846172

1st Edition

Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen

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