Post a New Question

accounting

posted by .

Presented below are three business transactions. For each transaction indicate whether there is an Increase, a Decrease or No Effect on the assets, the liabilities and the owner's equity.

Assets
Liabilities
Owner's Equity

(a) Invested cash in the business. Increase DecreaseNo EffectIncrease Increase
(b) Withdrawal of cash by owner. Decrease No EffectIncreaseDecrease Decrease
(c) Received cash from a customer who had previously been billed for services provided. No Effect IncreaseNo EffectDecrease IncreaseDecreaseNo Effect

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. Introduction to Accounting

    The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheet to view. L.L. Sams Company Balance …
  3. HELP ME PLEASE

    how will the fundemantal accounting equtation (assets=liabilities+owners equity) change if supplies are purchased on account?
  4. finance and accounting

    Account Word Problems like this I seem not to get the concept , please give me an exam as how to figure out this problem. 1. The liabilities of Acosta Corporation equal one-third of the total assets. And stockholders equity is $160,000. …
  5. Accounting Math

    Can anyone please show me the calculation for these problems: Burlin Company starts the year with $100,000 in assets and $80,000 in liabilities. Net Income for the year is $25,000, and no dividends are paid. How much is owner’s equity …
  6. M/C

    an owner investment of equipment into the business would: a)have no effect on liabilities b)have no effect on owner's equity c)have no effect on total assets d)increase net income i think its "a".
  7. Accounting

    Please check my answers. Identify each of the following as either assets, liabilities, or owner's equity. 1. Petty cash- Owner's Equity 2. Mortgage payable- Liabilities 3. Furniture- Assets 4. Owner's Capital- Owner's Equity 5. Food …
  8. accounting 205

    A proprietor makes a cash withdrawal from the proprietorship. How does this affect the accounting equation?
  9. accounting

    Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees $140,000 …
  10. Accounting

    The owner's equity of Logan's company is equal to one quarter of the total assets. Liabilities equal $60,000. What is the amount of owner's equity?

More Similar Questions

Post a New Question