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December 21, 2014

Homework Help: accounting

Posted by Anonymous on Thursday, April 22, 2010 at 8:17am.

The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations.



a. The transaction would increase an asset account and increase a liability account.



b. The transaction would decrease an asset account and decrease the owner�s equity account.



c. The transaction would increase an asset account and increase owner�s equity account.



d. The transaction would decrease an asset account and decrease a liability account.



e. The transaction would increase one asset account and decrease another asset account.



f. The transaction would decrease one liability account and increase another liability account.

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