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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 8
Using the accounting equation to analyze transactions
As the manager of a Papa Sam's Corporation restaurant, you must deal with a variety of business transactions.
Requirements
1. Give an example of a transaction that has each of the following effects on the accounting equation:
a. Increase one asset and decrease another asset.
b. Decrease an asset and decrease stockholders' equity.
c. Decrease an asset and decrease a liability.
d. Increase an asset and increase stockholders' equity.
e. Increase an asset and increase a liability.
As the manager of a Papa Sam's Corporation restaurant, you must deal with a variety of business transactions.
Requirements
1. Give an example of a transaction that has each of the following effects on the accounting equation:
a. Increase one asset and decrease another asset.
b. Decrease an asset and decrease stockholders' equity.
c. Decrease an asset and decrease a liability.
d. Increase an asset and increase stockholders' equity.
e. Increase an asset and increase a liability.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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