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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
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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