TigerCom completed the following transactions during 2014. The annual accounting period ends December 31, 2014.
Jan. 3......Purchased merchandise on account at a cost of $24,000. (Assume a perpetual inventory system.)
27 ......... Paid for the January 3 purchase.
Apr. 1 ... Received $80,000 from Atlantic Bank after signing a 12-month, 5 percent, promissory note.
June 13 .... Purchased merchandise on account at a cost of $8,000.
July 25 .... Paid for the June 13 purchase.
Aug.1 ..... Rented out a small office in a building owned by TigerCom and collected eight months' rent in advance, amounting to $8,000. (Use an account called Unearned Rent Revenue.)
Dec. 31 ... Determined wages of $12,000 were earned but not yet paid on December 31. (Ignore payroll taxes.)
Dec. 31 .... Adjusted the accounts at year-end, relating to interest.
Dec. 31 ..... Adjusted the accounts at year-end, relating to rent.
Required:
1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects (+ for increase, ˆ’ for decrease, and NE for no effect) on the accounting equation, using the following format:

2. For each item, state whether the quick ratio is increased, decreased, or there is no change. (Assume TigerCom's quick ratio is greater than 1.0.)

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Shareholders' Equity Date Liabilities Assets