1 Acounting equation Show which accounts increasedi decreased and by how A If yo

Question

1 Acounting equation Show which accounts increasedi decreased and by how A If you purchase a machinery worth $6,000 with cash, which accounts are affected? ONWNERSEQUITY B If you receive a bill from time warner cable for $500, which accounts are affected? OWNERSEQUITY C If you took some money to take out your g for your anniversary for $1,200, which accounts are affected? UABIUTIES OWNERSEQUITY D If you provided a service to cust omers worth $300 and they paid you right away, which accounts are affedted? UABUTES OWNERSEQUITY E If you paid a bill received before from Comcast for $1,500, which accounts are affected? OWNERSEQUITY F If you provided a service to a customer worth $1,100, they promise to pay you next week, which accounts are affected? UABUTIES OWNERSBQUITY AR 110 G If customers who owed you money before ($750), paid you today, which accounts are affected? - UABIUTES OWNERSEQUITY H If a vendor sold you tape worth $200 on account, which accounts are affected? - UABUTIES OWNERSEQUITY

Explanation / Answer

ASSETS LIABILITIES OWNER'S EQUITY A cash decreases by $6000 and machinery increases by the same amount B accounts payable increases by $500 and owner's equity decreases by the same amount C cash decreases by $1200 owner's equity decreases by $1200 D cash increases by $300 owner's equity increases by $300 E cash decreases by $1500 accounts payable decreases by $1500 F accounts receivable increases by $1100 owner's equity increases by $750 G cash increases by $750 and accounts receivable decreases by $750 H inventory (supplies) increases by $200 accounts payable increases by $200

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