Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside. To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

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Answer 1

Question

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

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Answer 2

Question

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

Expert Solution & Answer

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Answer 4

Question

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

Expert Solution & Answer

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Answer 5

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

Answer 6

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

Answer 7

Chapter 3, Problem 3.1AP

To determine

Concept Introduction:

Internal events are taken place within the company and external events are with outsiders of the company. Internal events affect organisation internally and it happens due to some internal factors, whereas external events affects organisation from outside.

To Classify: Whether the transaction is internal event or external event and each event would affect account or not and if it affects then write two accounts which are affected.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 3 - Read each definition below and write the number of...Ch. 3 - Types of Events For each of the following events,...Ch. 3 - Prob. 3.2E Ch. 3 - The Effect of Transactions on the Accounting...Ch. 3 - Types of Transactions There are three elements to...Ch. 3 - Balance Sheet Accounts and Their Use Choose from...Ch. 3 - Normal Account Balances Each account has a normal...Ch. 3 - Prob. 3.7E Ch. 3 - Prob. 3.8E Ch. 3 - Trial Balance The following list of accounts was...

Solution Summary: The author explains that internal events are taken place within the company, whereas external events affect outsiders. Vendors deliver supplies on account, payment due in 30 days, and new computer system are sold for cash.

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