For each transaction, indicate whether the assets, liabilities, or owner’s equity increased (I), decreased (D) or Did not Change (NE).
For each transaction, indicate whether the assets, liabilities, or owner’s equity increased (I), decreased (D) or Did not Change (NE).
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 18EA: Indicate whether each account that follows has a normal debit or credit balance. A. Unearned Revenue...
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Topic Video
Question
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For each transaction, indicate whether the assets, liabilities, or owner’s equity increased (I),
decreased (D) or Did not Change (NE).
Assets, Liabilities, and Owner’s Equity
1 Purchase of supplies on credit
2 Paid utility expense
3 Received a loan granted by the bank
4 Withdraws cash from the business
5 Paid salaries and wages
6 Received cash from customers as sales
7 Received a promissory note from rental
business
8 Paid advertising expense
9 Paid ₱1,000 to creditors
10 Billed customer for video rental
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