Analysis the Transactions of a Business Organized as a Corporation

Essay

Analysis the transactions of a business organized as a corporation described below and indicate their effect on the basic accounting equation. Use a plus sign (+) to indicate an increase and a minus sign (-) to indicate a decrease. $$\begin{array} { | l | l | l | l | } \hline & \text { Assets } & \text { Liabilities } & \text { ' Shareholders' Equity } \\\hline \begin{array} { l } \text { 1. Received cash for } \\\text { services provided. }\end{array} & & & \\\hline \begin{array} { l } \text { 2. Purchased office } \\\text { equipment on credit. }\end{array} & & & \\\hline \begin{array} { l } \text { 3. Paid employees' } \\\text { salaries. }\end{array} & & & \\\hline \begin{array} { l } \text { 4. Received cash from } \\\text { customer in payment on } \\\text { account. }\end{array} & & & \\\hline \begin{array} { l } \text { 5. Paid telephone bill for } \\\text { the month. }\end{array} & & & \\\hline \begin{array} { l } \text { 6. Paid for office } \\\text { equipment purchased in } \\\text { transaction 2. }\end{array} & & & \\\hline \begin{array} { l } \text { 7. Purchased office } \\\text { supplies on credit. }\end{array} & & & \\\hline \begin{array} { l } \text { 8. Dividends were paid. } \\\text { 9. Obtained a loan from } \\\text { the bank. }\end{array} & & & \\\hline \begin{array} { l } \text { 10. Billed customers for } \\\text { services performed. }\end{array} & & & \\\hline\end{array}$$