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Presented here are five economic events. For each item, indicate whether the event increased (+), decreased (–), or had no effect (NE) on assets, liabilities, and stockholders’ equity. Stockholders’ Assets = Liabilities + Equity a. Received cash for services rendered. _______ _______ _______ b. Purchased supplies on account. _______ _______ _______ c. Paid employees' salaries. _______ _______ _______ d. Dividends paid in cash. _______ _______ _______ e. Expenses paid in cash. _______ _______ _______

Presented here are five economic events. For each item, indicate whether the event increased (+), decreased (–), or had no effect (NE) on assets, liabilities, and stockholders’ equity. Stockholders’ Assets = Liabilities + Equity a. Received cash for services rendered. _______ _______ _______ b. Purchased supplies on account. _______ _______ _______ c. Paid employees' salaries. _______ _______ _______ d. Dividends paid in cash. _______ _______ _______ e. Expenses paid in cash. _______ _______ _______

FINANCIAL ACCOUNTING
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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Presented here are five economic events. For each item, indicate whether the event increased (+),

decreased (–), or had no effect (NE) on assets, liabilities, and stockholders’ equity.

Stockholders’

Assets = Liabilities + Equity

a. Received cash for services rendered. _______ _______ _______

b. Purchased supplies on account. _______ _______ _______

c. Paid employees' salaries. _______ _______ _______

d. Dividends paid in cash. _______ _______ _______

e. Expenses paid in cash. _______ _______ _______

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