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Montgomery Company Experienced the Following Events During 2015 (All Were

Question 34

Essay

Montgomery Company experienced the following events during 2015 (all were cash events):
1.Issued a note
2.Paid operating expenses
3.Issued common stock
4.Provided services to customers
5.Repaid part of the note in event 1
6.Paid dividends to stockholders
Required:
Indicate how each of these events affects the accounting equation by writing the letter I for increase,the letter D for decrease,and NA for no effect under each of the components of the accounting equation.Use only one item of entry in each column.The first event is done for you as an example.
Montgomery Company experienced the following events during 2015 (all were cash events): 1.Issued a note 2.Paid operating expenses 3.Issued common stock 4.Provided services to customers 5.Repaid part of the note in event 1 6.Paid dividends to stockholders Required: Indicate how each of these events affects the accounting equation by writing the letter I for increase,the letter D for decrease,and NA for no effect under each of the components of the accounting equation.Use only one item of entry in each column.The first event is done for you as an example.

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