Tahoma BIUA 11 +] = E - E ACTIVITY NO.11 Use the following question set for practice. For each transaction, tell whether the assets, liabilities and equity will Increase (1), Decrease (D), or is Not...

Extracted text: Tahoma BIUA 11 +] = E - E ACTIVITY NO.11 Use the following question set for practice. For each transaction, tell whether the assets, liabilities and equity will Increase (1), Decrease (D), or is Not Effective (NE). (Use Worksheet or Columnar Book) L. 1. The owner invests personal cash in the business 2. The owner withdraws business assets for personal use. 3. The company receives cash from a bank loan. 4. The company repays the bank that had lent money. 5. The company purchases equipment with its cash 6. The owner contributes her personal truck to the business. 7. The company purchase supply on credit. Describe each transaction: OWNER'S Date ASSETS LIABILITIES EQUITY Cash Supplies 7,500 Equipment 300,000 292,500 150,000 Bal. 75,000 60,000 150,000 (20,000) (112,500) 20,000 3 (112,000) 4 5,000 5,000 (15,000) (15,000) (53,500) (53,000) 7. (8,000) (8,000)