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    This document provides instructions to analyze 8 transactions that occurred at different businesses using T accounts. It lists the transactions which include a firm purchasing equipment for $16,000 cash, the owner withdrawing $4,000 cash, a firm selling surplus equipment for $3,000 cash, a firm purchasing a used truck for $12,000 cash, a firm paying $3,600 cash against an account owed, a firm purchasing office equipment for $5,000 to be paid in 60 days, an owner making an additional $20,000 cash investment, and a firm paying $1,500 by check for previously purchased office equipment. The document asks which transactions would affect liability accounts.

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    This document provides instructions to analyze 8 transactions that occurred at different businesses using T accounts. It lists the transactions which include a firm purchasing equipment for $16,000 cash, the owner withdrawing $4,000 cash, a firm selling surplus equipment for $3,000 cash, a firm purchasing a used truck for $12,000 cash, a firm paying $3,600 cash against an account owed, a firm purchasing office equipment for $5,000 to be paid in 60 days, an owner making an additional $20,000 cash investment, and a firm paying $1,500 by check for previously purchased office equipment. The document asks which transactions would affect liability accounts.

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    6 views1 page

    Solutiondone 453

    Uploaded by

    trilocksp Singh
    This document provides instructions to analyze 8 transactions that occurred at different businesses using T accounts. It lists the transactions which include a firm purchasing equipment for $16,000 cash, the owner withdrawing $4,000 cash, a firm selling surplus equipment for $3,000 cash, a firm purchasing a used truck for $12,000 cash, a firm paying $3,600 cash against an account owed, a firm purchasing office equipment for $5,000 to be paid in 60 days, an owner making an additional $20,000 cash investment, and a firm paying $1,500 by check for previously purchased office equipment. The document asks which transactions would affect liability accounts.

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    © All Rights Reserved
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    The following transactions occurred at several different

    businesses and are


    The following transactions occurred at several different businesses and are not
    related.INSTRUCTIONSAnalyze each of the transactions. For each transaction, set up T
    accounts. Record the effects of the transaction in the T accounts. Use plus and minus signs to
    show the increases and decreases.TRANSACTIONS1. A firm purchased equipment for $16,000
    in cash.2. The owner, Ana Rodriguez, withdrew $4,000 cash.3. A firm sold a piece of surplus
    equipment for $3,000 in cash.4. A firm purchased a used delivery truck for $12,000 in cash.5. A
    firm paid $3,600 in cash to apply against an account owed.6. A firm purchased office equipment
    for $5,000. The amount is to be paid in 60 days.7. Kelvin Newton, owner of the company, made
    an additional investment of $20,000 in cash.8. A firm paid $1,500 by check for office equipment
    that it had previously purchased on credit.Analyze: Which transactions affect liability
    accounts?View Solution: The following transactions occurred at several different businesses
    and are
    SOLUTION-- http://solutiondone.online/downloads/the-following-transactions-occurred-at-
    several-different-businesses-and-are/

    Unlock answers here solutiondone.online

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