8. The ownerwithdrawscash forpersonalused.9. Thecompanypurchasesland by paying halfin cash andsigning anote.10. Thecompanypays thesupplier fortheirpurchaseslast month. For each transaction, tell whether the assets, liabilities andequity will increase (I), decrease (D) or is notaffected (NE).TRANSACTIONSASSELIABILСАPITTITIESAL1. The ownerinvestspersonalcash to thebusiness2. The ownerwithdrawsbusinessassets forpersonal use.3. Thecompanyreceivescash from abank loan4. Thecompanypays thebank thathad lentmoney.5. Thecompanypurchasesequipmentwith its cash.6. The ownercontributesher personaltruck to thebusiness.

Each financial transaction in a business will affect at least two accounts and each debit entry will…

For each transaction, tell whether the assets, liabilities and equity will increase (I), decrease (D) or is not affected (NE). TRANSACTIONS ASSE LIABIL САРIT T ITIES AL 1. The owner invests personal cash to the business 2. The owner withdraws business assets for personal use. 3. The company receives cash from a bank loan 4. The company pays the bank that had lent money. 5. The company purchases equipment with its cash. 6. The owner contributes her personal truck to the business

For each transaction, tell whether the assets, liabilities and equity will increase (I), decrease (D) or is not affected (NE). TRANSACTIONS ASSE LIABIL САРIT T ITIES AL 1. The owner invests personal cash to the business 2. The owner withdraws business assets for personal use. 3. The company receives cash from a bank loan 4. The company pays the bank that had lent money. 5. The company purchases equipment with its cash. 6. The owner contributes her personal truck to the business

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 3.4C

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