The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $49,000. b. Receive cash of $41,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $34,000. d. Pay utilities of $4,900 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Stockholders' Equity Transaction Assets Liabilities (a) (b) increase (b) decrease (c) (d)

The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $49,000. b. Receive cash of $41,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $34,000. d. Pay utilities of $4,900 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Stockholders' Equity Transaction Assets Liabilities (a) (b) increase (b) decrease (c) (d)

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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