Stockholders' Transaction Assets Liabilities Equity 1. Obtain a loan at the bank. Increase Increase + No effect 2. Purchase a machine to use in operations for cash. 3. Provide services to customers for cash. 4. Pay employee salaries for the current month. 5. Repay loan from the bank in (1) above. 6. Customers pay cash in advance of services. 7. Pay for maintenance costs in the current month. 8. Pay for advertising in the current month. 9. Purchase office supplies on account. 10. Provide services to customers on account. 11. Pay dividends to stockholders.

Stockholders' Transaction Assets Liabilities Equity 1. Obtain a loan at the bank. Increase Increase + No effect 2. Purchase a machine to use in operations for cash. 3. Provide services to customers for cash. 4. Pay employee salaries for the current month. 5. Repay loan from the bank in (1) above. 6. Customers pay cash in advance of services. 7. Pay for maintenance costs in the current month. 8. Pay for advertising in the current month. 9. Purchase office supplies on account. 10. Provide services to customers on account. 11. Pay dividends to stockholders.

Name: Below is a list of activities for Tigers Corporation.Required: For eac
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Description: Below is a list of activities for Tigers Corporation.Required: For each activity, indicate whether the transaction increases, decreases, or has no effect on assets, liabilities, and stockholders’ equity. Stockholders'TransactionAssetsLiabilitiesEquit

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Below is a list of activities for Tigers Corporation.

Required:
For each activity, indicate whether the transaction increases, decreases, or has no effect on assets, liabilities, and stockholders’ equity.

Stockholders'
Transaction
Assets
Liabilities
Equity
1. Obtain a loan at the bank.
Increase
Increase
+
No effect
2. Purchase a machine to
use in operations for cash.
3. Provide services to
customers for cash.
4. Pay employee salaries for
the current month.
5. Repay loan from the bank
in (1) above.
6. Customers pay cash in
advance of services.
7. Pay for maintenance costs
in the current month.
8. Pay for advertising in the
current month.
9. Purchase office supplies
on account.
10. Provide services to
customers on account.
11. Pay dividends to
stockholders.

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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