Identify the effects of each of the following items of information on the accounting equation.Show the correct dollar amount and name the accounts involved.The first transaction has been done for you.
a.Supplies used up during the period,$56
b.Prepaid rent used up during the period,$120
c.Interest accrued on a note payable but unpaid,$203
d.Depreciation on long-term assets,$4,000
e.The portion of unearned revenue that has been earned,$1,000
f.A $12,000,12-month insurance policy was purchased 7 months ago

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The Answer of Identify the effects of each of the following items of information on the accounting equation.Show the correct dollar amount and name the accounts involved.The first transaction has been done for you.
a.Supplies used up during the period,$56
b.Prepaid rent used up during the period,$120
c.Interest accrued on a note payable but unpaid,$203
d.Depreciation on long-term assets,$4,000
e.The portion of unearned revenue that has been earned,$1,000
f.A $12,000,12-month insurance policy was purchased 7 months ago

Identify the Effects of Each of the Following Items of Information