Indicate how the following transactions affect the accounting equation: The purchase of supplies on account a. b. The purchase of supplies for cash A withdraw by the owner to pay personal expenses C. Revenues received in cash d. Services performed on account e.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 2EB: Consider the following accounts and determine if the account is an asset (A), a liability (L), or...
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Indicate how the following transactions affect the accounting equation:
The purchase of supplies on account
a.
b.
The purchase of supplies for cash
A withdraw by the owner to pay personal expenses
C.
Revenues received in cash
d.
Services performed on account
e.
Transcribed Image Text:Indicate how the following transactions affect the accounting equation: The purchase of supplies on account a. b. The purchase of supplies for cash A withdraw by the owner to pay personal expenses C. Revenues received in cash d. Services performed on account e.
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