Directions: In the columns below, indicate whether the transactions increased (+), decreased (-), or had no effect (NE) on assets, liabilities and owner’s equity. Transaction Assets Liabilities Equity/Capital Example: Investment by the owner + NE + 1. Purchased supplies on account + + NE 2. Billed customer for services rendered. + NE NE 3. Collection of accounts receivable. 4. Received a bill from Sky Cable. 5. Proprietor’s cash withdrawal. 6. Purchase of equipment on account. 7. Payment of salaries. 8. Payment to creditors. 9. Incurred advertising expense on account. 10. Received a bill from Globe Telecom.

Directions: In the columns below, indicate whether the transactions increased (+), decreased (-), or had no effect (NE) on assets, liabilities and owner’s equity. Transaction Assets Liabilities...

Directions: In the columns below, indicate whether the transactions increased (+),

decreased (-), or had no effect (NE) on assets, liabilities and owner’s

equity.

Transaction	Assets	Liabilities	Equity/Capital
Example: Investment by the owner	+	NE	+
1. Purchased supplies on account	+	+	NE
2. Billed customer for services rendered.	+	NE	NE
3. Collection of accounts receivable.
4. Received a bill from Sky Cable.
5. Proprietor’s cash withdrawal.
6. Purchase of equipment on account.
7. Payment of salaries.
8. Payment to creditors.
9. Incurred advertising expense on account.
10. Received a bill from Globe Telecom.

Jun 10, 2022