Question 6 of 22 View Policies Current Attempt in Progress Presented below are eight business...
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Question 6 of 22 View Policies Current Attempt in Progress Presented below are eight business transactions. Indicate the effect of each transaction on each elemento equation. (a) (b) (c) (d) (e) (6) Purchased $202 of supplies on account. Performed $511 of services on account. Paid $251 of operating expenses. Paid $202 cash on account for the supplies purchased in item (a) above. Invested $1,122 cash in the business. Owner withdrew $412 cash. Hired an employee to start working the following month. Received $511 from a customer who had been billed previously in item (b) above. Purchased $404 of equipment in exchange for a note payable. (h) (0) Use the below format, in which the first one has been done for you as an example: (If a transaction causes ac or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Lic was reduced. See Illustration 1-13 for example.) was reduced. See mustration 1013 for example Owner's Equity Capital Assets Liabilities Drawings Transaction (a) $202 $202 So (b) (d) (e) (0) (h) (0) Assets Liabilities Capital Drawings Transaction (a) $202 $202 $0 (b) (c) (d) le) if (h) (0)
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