Indicate whether it is an increase (+), decrease (-), or no effect on the asset, liabilities and equity accounts. Assets Liabilities Equity 1. Investment of cash in the business 2. Purchase of computer equipment for cash 3. Billed a customer for services rendered
Indicate whether it is an increase (+), decrease (-), or no effect on the asset, liabilities and equity accounts. Assets Liabilities Equity 1. Investment of cash in the business 2. Purchase of computer equipment for cash 3. Billed a customer for services rendered
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Indicate whether it is an increase (+), decrease (-), or no effect on the asset, liabilities and equity accounts.
Assets Liabilities Equity
1. Investment of cash in the business
2. Purchase of computer equipment for cash
3. Billed a customer for services rendered
4. Paid salaries
5. Purchased office supplies on credit
6. Paid advertising expense
7. Paid rent in advance for 3 months
8. Received cash from customers on account
9. Withdrew cash for personal use
10. Invested land into the company
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