Activity 4: Directions: For each transaction, tell whether the assets, liabilities, anco equity will increase (+), decrease (-), or are not affected (ne). Write your answer in your activity notebook. A 1. The owner invest equipment in the business. 2. The company receives cash from a bank loan. 3. The company repays the bank loan. 4. The company purchases furniture on cash basis. 5. The company purchase land on account. 6. The company sales on account. 7. The company pays electric bill on cash 8. The company purchase supplies on account. 9. The company repays the supplies. 10. The owner withdraw cash for personal use. 2022.02.18 11:35

Activity 4: Directions: For each transaction, tell whether the assets, liabilities, anco equity will increase (+), decrease (-), or are not affected (ne). Write your answer in your activity notebook. A 1. The owner invest equipment in the business. 2. The company receives cash from a bank loan. 3. The company repays the bank loan. 4. The company purchases furniture on cash basis. 5. The company purchase land on account. 6. The company sales on account. 7. The company pays electric bill on cash 8. The company purchase supplies on account. 9. The company repays the supplies. 10. The owner withdraw cash for personal use. 2022.02.18 11:35

Name: Grade/Section:Activity 4:Directions: For each transaction, tell wheth
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Description: Grade/Section:Activity 4:Directions: For each transaction, tell whether the assets, liabilities, andequity will increase (+), decrease (-), or are not affected (ne). Write youranswer in your activity notebook.AL.1. The owner invest equipment in the

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 15EB: Discuss how each of the following transactions will affect assets, liabilities, and stockholders...

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List the classification of each of the following accounts as A (asset), L (liability), OE (owners equity), R (revenue), or E (expense). Write Debit or Credit to indicate the increase side, the decrease side, and the normal balance side. PART 1: The Accounting Cycle for a Service Business: Analyzing Business Transactions
DEBIT AND CREDIT ANALYSIS Complete the following statements using either debit or credit: (a) The cash account is increased with a __________. (b) The owners capital account is increased with a __________. (c) The delivery equipment account is increased with a __________. (d) The cash account is decreased with a __________. (e) The liability account Accounts Payable is increased with a __________. (f) The revenue account Delivery Fees is increased with a __________. (g) The asset account Accounts Receivable is increased with a __________. (h) The rent expense account is increased with a __________. (i) The owners drawing account is increased with a __________.
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