Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 56

Determining the Accounting Equation Effects of Transactions
Complete the following table, indicating the sign and amount of the effect (+ for increase, for decrease, and NE for no effect) of each transaction. Provide an account name for any revenue or expense transactions included in stockholders' equity. Consider each item independently.
a. Issued 10,000 shares of stock for $90,000 cash.
b. Equipment costing $4,000 was purchased by issuing a long-term note payable.
c. Recorded depreciation of $1,000 on the equipment.