. For each of the transactions listed below, determine the balance sheet accounts affected indicate...
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Accounting
. For each of the transactions listed below, determine the balance sheet accounts affected indicate whether they are increased or decreased, and; state the value ($ amount) of the change. For each transaction there are as many lines available to complete as accounts that are required. Increase Decrease . Amount Equipment $2 000 Example: Purchased equipment for $2 000 cash Cash $2 000 a) Received $1 200 payment from customers for previous purchases on credit. b) Owner invested $15 000 in the business c) Paid salaries totaling $1 500 to employees d) Purchased $15 000 automobile on credit e) Purchased new office building, paid $200 000 cash and took out mortgage for $300 000 wote cum g) Paid $890 for repairs to building. Hint: When repairs occur, this does not increase the value of the building but rather reduces owner's equity h) Paid $7 000 toward amount owing for automobile purchased previously I Increase Decrease Amount 1) Performed accounting services for $3 500 and was paid cash D) Sent a bill for $4 200 to a customer for accounting services that will be paid later
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