B. Effect of Transactions on Accounting Elements Indicate the effect on the accounting elements of each transaction described in the source document. Write (+) for increase or (-) for decrease. Business Transactions 1. Cash disbursement made due to business registration 2. Charge purchase invoice received for supplies purchased 3. Statement of account from electric 4. 5. company for the energy consumed, payable next month Promissory note issued to replace the existing accounts payable Various official receipts and invoices incurred for operating expenses Asset Liability Capital Revenue Expenses

B. Effect of Transactions on Accounting Elements Indicate the effect on the accounting elements of each transaction described in the source document. Write (+) for increase or (-) for decrease. Business Transactions 1. Cash disbursement made due to business registration 2. Charge purchase invoice received for supplies purchased 3. Statement of account from electric 4. 5. company for the energy consumed, payable next month Promissory note issued to replace the existing accounts payable Various official receipts and invoices incurred for operating expenses Asset Liability Capital Revenue Expenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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