TahomaBIUA11+]= E - EACTIVITY NO.11Use the following question set for practice. For each transaction, tell whether the assets, liabilities and equitywill Increase (1), Decrease (D), or is Not Effective (NE). (Use Worksheet or Columnar Book)L.1. The owner invests personal cash in the business2. The owner withdraws business assets for personal use.3. The company receives cash from a bank loan.4. The company repays the bank that had lent money.5. The company purchases equipment with its cash6. The owner contributes her personal truck to the business.7. The company purchase supply on credit.Describe each transaction:OWNER'SDateASSETSLIABILITIESEQUITYCashSupplies7,500Equipment300,000292,500150,000Bal.75,00060,000150,000(20,000)(112,500)20,0003(112,000)45,0005,000(15,000)(15,000)(53,500)(53,000)7.(8,000)(8,000)

Name: TahomaBIUA11+]= E - EACTIVITY NO.11Use the following question set for
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Description: TahomaBIUA11+]= E - EACTIVITY NO.11Use the following question set for practice. For each transaction, tell whether the assets, liabilities and equitywill Increase (1), Decrease (D), or is Not Effective (NE). (Use Worksheet or Columnar Book)L.1. The

Assets = Owner's Equity + Liabilities These are the possible cases: 1. Increase in an Asset and a…

Business

Accounting

Use the following question set for practice. For each transaction, tell whether the assets, liabilities and equity will Increase (1), Decrease (D), or is Not Effective (NE). (Use Worksheet or Columnar Book)

Use the following question set for practice. For each transaction, tell whether the assets, liabilities and equity will Increase (1), Decrease (D), or is Not Effective (NE). (Use Worksheet or Columnar Book)

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.26E: Accounting concepts Match each of the following statements with the appropriate accounting concept....

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