PA6. LO 3.4 Indicate what impact (+ for increase; - for decrease) the following transactions would have on the accounting equation, Assets = Liabilities + Equity: 1. Issued stock for cash 2. Purchased supplies on account 3. Paid employee salaries 4. Paid note payment to bank 5. Collected balance on accounts receivable
Added by Stacey B.
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Issued stock for cash: This would increase both assets (cash) and equity (stockholders' equity). So, the impact would be: Assets (+), Liabilities (no change), Equity (+). Show more…
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