ANALYSIS. For each transaction indicate whether the assets, liabilities, or owner's equi increased (I), decreased (D) or Did not Change (NE). Owner' Transaction Assets Liabilities Equity 7-59. Purchase of supplies on credit 0-62. Paid utility expense 3-65. Received a loan granted by bank 6-68. Withdraws cash from the business 9-71. Paid salaries and wages 2-74. Received cash from customers as sales 5-77. Received promissory note from rental business 8-80. Paid advertising expense 31-83. Paid cash to creditors 34-86. Billed customer for video rental

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ANALYSIS. For each transaction indicate whether the assets, liabilities, or owner's equi
increased (I), decreased (D) or Did not Change (NE).
Owner's
Transaction
Assets
Liabilities
Equity
57-59. Purchase of supplies on credit
50-62. Paid utility expense
53-65. Received a loan granted by bank
56-68. Withdraws cash from the business
59-71. Paid salaries and wages
72-74. Received cash from customers as sales
75-77. Received promissory note from rental business
78-80. Paid advertising expense
31-83. Paid cash to creditors
34-86. Billed customer for video rental
Transcribed Image Text:ANALYSIS. For each transaction indicate whether the assets, liabilities, or owner's equi increased (I), decreased (D) or Did not Change (NE). Owner's Transaction Assets Liabilities Equity 57-59. Purchase of supplies on credit 50-62. Paid utility expense 53-65. Received a loan granted by bank 56-68. Withdraws cash from the business 59-71. Paid salaries and wages 72-74. Received cash from customers as sales 75-77. Received promissory note from rental business 78-80. Paid advertising expense 31-83. Paid cash to creditors 34-86. Billed customer for video rental
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