accounting

posted by .

For each of the following items give an example of a business transaction that has the described effect on the accounting equation:

increase an asset and increase a liability

increase one asset and decrease another asset

decrease an asset and decrease owners equity

decrease an asset and decrease a liability

increase an asset and increase owners equity

  • accounting -

    Here are some accounting tutorials:

    1. http://www.middlecity.com/

    2. http://www.middlecity.com/ch01.shtml

    3. (Broken Link Removed)

    4. http://businesslibrary.uflib.ufl.edu/accountingresearch

    Sra

  • accounting -

    increase an asset and increase a liability : Purchased supplies on account. Increases supplies (asset) and increases accounts payable (liability).

    increase one asset and decrease another asset: Purchased supplies with cash. Increase supplies (Asset) decrease cash (Asset).


    decrease an asset and decrease a liability: Paid for purchases on account with cash. Decrease cash (asset) and decrease accounts payable (liability).


    Hope these help

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Business Environment and Recording Transactions

    Give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease an asset and decrease owner's equity. …
  2. Accounting

    For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability: Increase one asset and decrease another asset. Decrease …
  3. accounting I

    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. …
  4. HELP

    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. …
  5. Math accounting

    The following selected transactions were completed by Pilgrim Delivery Service during July: 1. Received cash from issuing capital stock, $115,000 2. received cash for providing delivery service, $58,000 3. Paid advertising expense, …
  6. accounting

    for each of the following items, give an example of a business transaction that has described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease an …
  7. Accounting

    Give an example of the following tranactions •Increase an asset and increase a liability. •Increase one asset and decrease another asset. •Decrease an asset and decrease owner's equity. •Decrease an asset and decrease a liability. …
  8. accounting

    For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease …
  9. accounting

    For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: * Increase an asset and increase a liability. * Increase one asset and decrease another asset. * Decrease …
  10. accounting

    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. …

More Similar Questions