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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 31
Effect of transactions on accounting equation
Describe how the following business transactions affect the three elements of the accounting equation:
a. Invested cash in business.
b. Paid for utilities used in the business.
c. Purchased supplies for cash.
d. Purchased supplies on account.
e. Received cash for services performed.
Describe how the following business transactions affect the three elements of the accounting equation:
a. Invested cash in business.
b. Paid for utilities used in the business.
c. Purchased supplies for cash.
d. Purchased supplies on account.
e. Received cash for services performed.
Explanation
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1. Invested cash in business -: Increase...
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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