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 accou
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 accou
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 2PA: To demonstrate the difference between cash account activity and accrual basis profits (net income),...
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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 accou
![Indicate whether it is an increase (+), decrease (-), or no effect (NE) on the asset, liabilities, and equity accounts.
Equity
Asset
Liabilities
1.
Investment of cash in the business
Purchase of computer equipment for cash
2.
3.
Billed a customer for services rendered
4.
Paid salaries
Purchased office supplies on credit
Paid advertising expense
5.
б.
7.
Paid rent in advance for 3 months
8.
Received cash from customers on account
Withdrew cash for personal use
Invested land into the company
9.
10.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F34437555-94e2-4f66-9360-1bd15e22d4bb%2Ff642d96c-3b17-4f96-866d-66086a17c479%2F1s93jj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Indicate whether it is an increase (+), decrease (-), or no effect (NE) on the asset, liabilities, and equity accounts.
Equity
Asset
Liabilities
1.
Investment of cash in the business
Purchase of computer equipment for cash
2.
3.
Billed a customer for services rendered
4.
Paid salaries
Purchased office supplies on credit
Paid advertising expense
5.
б.
7.
Paid rent in advance for 3 months
8.
Received cash from customers on account
Withdrew cash for personal use
Invested land into the company
9.
10.
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