Question 13 options: Manor Ltd. records their business transactions into the basic accounting equation. For each of the following independent business activities, indicate the effect on the basic accounting equation. Rent of $1,800, which was paid in March, was used in April. A. Increase assets, decrease assets B. Increase assets, decrease liabilities C. Increase assets, increase liabilities D. Increase assets, increase equity E. Increase assets, decrease equity F. Increase liabilities, increase equity G. Increase liabilities, decrease equity H. Decrease liabilities, increase equity I. Decrease liabilities, decrease equity J. Decrease assets, decrease liabilities K. Decrease assets, increase liabilities L. Decrease assets, increase equity M. Decrease assets, decrease equity N. No entry is required. Enter the correct LETTER choice (A B C D E F G H I J K L M N ) The company received $875 of cash from a customer for services to be performed next month. A. Increase assets, decrease assets B. Increase assets, decrease liabilities C. Increase assets, increase liabilities D. Increase assets, increase equity E. Increase assets, decrease equity F. Increase liabilities, increase equity G. Increase liabilities, decrease equity H. Decrease liabilities, increase equity I. Decrease liabilities, decrease equity J. Decrease assets, decrease liabilities K. Decrease assets, increase liabilities L. Decrease assets, increase equity M. Decrease assets, decrease equity N. No entry is required. Enter the correct LETTER choice (A B C D E F G H I J K L M N ) Received a electricity bill on July 31 for $780. The bill will be paid in early August. A. Increase assets, decrease assets B. Increase assets, decrease liabilities C. Increase assets, increase liabilities D. Increase assets, increase equity E. Increase assets, decrease equity F. Increase liabilities, increase equity G. Increase liabilities, decrease equity H. Decrease liabilities, increase equity I. Decrease liabilities, decrease equity J. Decrease assets, decrease liabilities K. Decrease assets, increase liabilities L. Decrease assets, increase equity M. Decrease assets, decrease equity N. No entry is required. Enter the correct LETTER choice (A B C D E F G H I J K L M N ) Provided $2,460 of services, on account, to a customer. A. Increase assets, decrease assets B. Increase assets, decrease liabilities C. Increase assets, increase liabilities D. Increase assets, increase equity E. Increase assets, decrease equity F. Increase liabilities, increase equity G. Increase liabilities, decrease equity H. Decrease liabilities, increase equity I. Decrease liabilities, decrease equity J. Decrease assets, decrease liabilities K. Decrease assets, increase liabilities L. Decrease assets, increase equity M. Decrease assets, decrease equity N. No entry is required. Enter the correct LETTER choice (A B C D E F G H I J K L M N ) In August provided $760 of services to a customer who paid in advance in July. A. Increase assets, decrease assets B. Increase assets, decrease liabilities C. Increase assets, increase liabilities D. Increase assets, increase equity E. Increase assets, decrease equity F. Increase liabilities, increase equity G. Increase liabilities, decrease equity H. Decrease liabilities, increase equity I. Decrease liabilities, decrease equity J. Decrease assets, decrease liabilities K. Decrease assets, increase liabilities L. Decrease assets, increase equity M. Decrease assets, decrease equity N. No entry is required. Enter the correct LETTER choice (A B C D E F G H I J K L M N )
Question 13 options:
Manor Ltd. records their business transactions into the basic
For each of the following independent business activities, indicate the effect on the basic accounting equation.
Rent of $1,800, which was paid in March, was used in April.
A. Increase assets, decrease assets
B. Increase assets, decrease liabilities
C. Increase assets, increase liabilities
D. Increase assets, increase equity
E. Increase assets, decrease equity
F. Increase liabilities, increase equity
G. Increase liabilities, decrease equity
H. Decrease liabilities, increase equity
I. Decrease liabilities, decrease equity
J. Decrease assets, decrease liabilities
K. Decrease assets, increase liabilities
L. Decrease assets, increase equity
M. Decrease assets, decrease equity
N. No entry is required.
Enter the correct LETTER choice (A B C D E F G H I J K L M N )
The company received $875 of cash from a customer for services to be performed next month.
A. Increase assets, decrease assets
B. Increase assets, decrease liabilities
C. Increase assets, increase liabilities
D. Increase assets, increase equity
E. Increase assets, decrease equity
F. Increase liabilities, increase equity
G. Increase liabilities, decrease equity
H. Decrease liabilities, increase equity
I. Decrease liabilities, decrease equity
J. Decrease assets, decrease liabilities
K. Decrease assets, increase liabilities
L. Decrease assets, increase equity
M. Decrease assets, decrease equity
N. No entry is required.
Enter the correct LETTER choice (A B C D E F G H I J K L M N )
Received a electricity bill on July 31 for $780. The bill will be paid in early August.
A. Increase assets, decrease assets
B. Increase assets, decrease liabilities
C. Increase assets, increase liabilities
D. Increase assets, increase equity
E. Increase assets, decrease equity
F. Increase liabilities, increase equity
G. Increase liabilities, decrease equity
H. Decrease liabilities, increase equity
I. Decrease liabilities, decrease equity
J. Decrease assets, decrease liabilities
K. Decrease assets, increase liabilities
L. Decrease assets, increase equity
M. Decrease assets, decrease equity
N. No entry is required.
Enter the correct LETTER choice (A B C D E F G H I J K L M N )
Provided $2,460 of services, on account, to a customer.
A. Increase assets, decrease assets
B. Increase assets, decrease liabilities
C. Increase assets, increase liabilities
D. Increase assets, increase equity
E. Increase assets, decrease equity
F. Increase liabilities, increase equity
G. Increase liabilities, decrease equity
H. Decrease liabilities, increase equity
I. Decrease liabilities, decrease equity
J. Decrease assets, decrease liabilities
K. Decrease assets, increase liabilities
L. Decrease assets, increase equity
M. Decrease assets, decrease equity
N. No entry is required.
Enter the correct LETTER choice (A B C D E F G H I J K L M N )
In August provided $760 of services to a customer who paid in advance in July.
A. Increase assets, decrease assets
B. Increase assets, decrease liabilities
C. Increase assets, increase liabilities
D. Increase assets, increase equity
E. Increase assets, decrease equity
F. Increase liabilities, increase equity
G. Increase liabilities, decrease equity
H. Decrease liabilities, increase equity
I. Decrease liabilities, decrease equity
J. Decrease assets, decrease liabilities
K. Decrease assets, increase liabilities
L. Decrease assets, increase equity
M. Decrease assets, decrease equity
N. No entry is required.
Enter the correct LETTER choice (A B C D E F G H I J K L M N )
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