B. Effect of Transactions on Accounting Elements Indicate the effect on the accounting elements of each transaction described in the source document. Write (+) for increase or (-) for decrease. Business Transactions 1. Cash disbursement made due to business registration 2. Charge purchase invoice received for supplies purchased 3. Statement of account from electric 4. 5. company for the energy consumed, payable next month Promissory note issued to replace the existing accounts payable Various official receipts and invoices incurred for operating expenses Asset Liability Capital Revenue Expenses
B. Effect of Transactions on Accounting Elements Indicate the effect on the accounting elements of each transaction described in the source document. Write (+) for increase or (-) for decrease. Business Transactions 1. Cash disbursement made due to business registration 2. Charge purchase invoice received for supplies purchased 3. Statement of account from electric 4. 5. company for the energy consumed, payable next month Promissory note issued to replace the existing accounts payable Various official receipts and invoices incurred for operating expenses Asset Liability Capital Revenue Expenses
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter2: Basic Accounting Systems: Cash Basis
Section: Chapter Questions
Problem 2.10E: Effects of transactions on Accounting equation On Time Delivery Service had the following selected...
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