Multiple Choice
For each transaction numbered below, identify its effect on the accounting equation by selecting from a through h below.You may use each letter more than once or not at all.
-Secured a large contract with Allegheny Company to provide computer services during the forthcoming year
A) + A and + L
B) + A and + SE (Contributed Capital)
C) + A and + SE (Retained Earnings)
D) -A and - L
E) -A and - SE (Contributed Capital)
F) - A and - SE (Retained Earnings)
G) + A and - A
H) Not communicated by the formal accounting system
Correct Answer:

Verified
Correct Answer:
Verified
Q13: For each transaction numbered below, identify its
Q14: On October 1, 2010, $36,000 of annual
Q15: For each transaction numbered below, identify its
Q16: For each financial concept listed in below,
Q17: For each financial concept listed in below,
Q19: Liabilities are $2,000, retained earnings are $1,000,
Q20: On October 1, 2010, $18,000 of annual
Q21: The statement of cash flows (direct method)
Q22: Which of the following represents two of
Q23: Match the descriptions listed in letters a