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In: Accounting

Indicate the effect of the following transactions by showing whether there is an increase, decrease or...

Indicate the effect of the following transactions by showing whether there is an increase, decrease or no effect on the Assets, Liabilities and Owner’s Equity.

Do NOT Indicate the specific accounts affected by each transaction.

  1. Purchased shares in another company for greater than their book value
  2. Purchased inventory on credit
  3. Issued additional shares for cash
  4. Declared dividends
  5. Sold inventory on account
  6. Collected cash from creditors
  7. Paid for inventory purchased on credit
  8. Paid wages in cash
  9. Recorded depreciation on equipment
  10. Repaid bank loan, including outstanding interest.

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ekkarill92 answered 2 years ago
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