For each transaction, indicate whether the balance of total assets, liabilities and owner’s equity (OE) increased,...

For each transaction, indicate whether the balance of total assets, liabilities and owner’s equity (OE) increased, decreased, or did not change.

Transaction #	Description	Assets	Liabilities	Owner’s Equity
1	Paid salaries for current month.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
2	Purchased equipment on credit.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
3	Purchased furniture using cash.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
4	Additional investment into the business.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
5	Received immediate payment for services provided.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
6	Made partial payment for equipment purchased on credit.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
7	Billed customers for services performed.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
8	Withdrew cash for personal use.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
9	Received payment from customers already billed.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change
10	Received bills for current utilities to be paid next month.	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change	AnswerDecreaseIncreaseNo Change

Please assist . For each question please indicate whether it is a increase , decrease , or no change at all for assests liabilities and equity.

Expert Solution

Transaction #	Description	Assets	Liabilities	Owner’s Equity
1	Paid salaries for current month.	Decrease	No Change	Decrease
2	Purchased equipment on credit.	Increase	Increase	No Change
3	Purchased furniture using cash.	No change	No Change	No Change
4	Additional investment into the business.	Increase	No Change	Increase
5	Received immediate payment for services provided.	Increase	No Change	Increase
6	Made partial payment for equipment purchased on credit.	Decrease	Decrease	No Change
7	Billed customers for services performed.	Increase	No Change	Increase
8	Withdrew cash for personal use.	Decrease	No Change	Decrease
9	Received payment from customers already billed.	No change	No Change	No Change
10	Received bills for current utilities to be paid next month.	No change	Increase	Decrease

ekkarill92 answered 1 year ago

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