Problems 146. Below are the steps in the measurement process of external transactions. Arrange them from first (1) to last (6). _____ (a) Post the transaction to the T-accounts in the...

Problems

146. Below are the steps in the measurement process of external transactions. Arrange them from first (1) to last (6).

_____ (a) Post the transaction to the T-accounts in the general ledger.

_____(b) Assess whether the impact of the transaction results in a debit or credit to the account balance.

_____(c) Use source documents to identify accounts affected by external transactions.

_____(d) Analyze the impact of the transaction on the accounting equation.

_____(e) Prepare a trial balance.

_____(f) Record transactions using debits and credits.

147. A company received a utility bill of $600 but did not pay it. Indicate the amount of increases and decreases in the accounting equation.

148. A company purchases supplies on account for $1,700. Indicate the amount of increases and decreases in the accounting equation.