Presented here are five economic events. For each item, indicate whether the event increased (+), decreased (–), or had no effect (NE) on assets, liabilities, and stockholders’ equity. Stockholders’ Assets = Liabilities + Equity a. Received cash for services rendered. _______ _______ _______ b. Purchased supplies on account. _______ _______ _______ c. Paid employees' salaries. _______ _______ _______ d. Dividends paid in cash. _______ _______ _______ e. Expenses paid in cash. _______ _______ _______
Presented here are five economic events. For each item, indicate whether the event increased (+), decreased (–), or had no effect (NE) on assets, liabilities, and stockholders’ equity. Stockholders’ Assets = Liabilities + Equity a. Received cash for services rendered. _______ _______ _______ b. Purchased supplies on account. _______ _______ _______ c. Paid employees' salaries. _______ _______ _______ d. Dividends paid in cash. _______ _______ _______ e. Expenses paid in cash. _______ _______ _______
Chapter2: Introduction To Financial Statements
Section: Chapter Questions
Problem 4MC: The balance sheet lists which of the following? A. assets, liabilities, and owners equity B....
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Presented here are five economic events. For each item, indicate whether the event increased (+),
decreased (–), or had no effect (NE) on assets, liabilities, and
Stockholders’
Assets = Liabilities + Equity
a. Received cash for services rendered. _______ _______ _______
b. Purchased supplies on account. _______ _______ _______
c. Paid employees' salaries. _______ _______ _______
d. Dividends paid in cash. _______ _______ _______
e. Expenses paid in cash. _______ _______ _______
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