Letty's Laundry and Dry Cleaning incorporated and started business on January 1,2011.

Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1)through (10)in a vertical column,and inserting at the right of each number the appropriate letter from the following list:
a.Increase in an asset,decrease in another asset.
b.Increase in an asset,increase in a liability.
c.Increase in an asset,increase in stockholders' equity.
d.Decrease in an asset,decrease in a liability.
e.Decrease in an asset,decrease in stockholders' equity

Question

Letty's Laundry and Dry Cleaning incorporated and started business on January 1,2011.
  
Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1)through (10)in a vertical column,and inserting at the right of each number the appropriate letter from the following list: 
a.Increase in an asset,decrease in another asset.
b.Increase in an asset,increase in a liability.
c.Increase in an asset,increase in stockholders' equity.
d.Decrease in an asset,decrease in a liability.
e.Decrease in an asset,decrease in stockholders' equity

Quizplus · Accepted Answer

The Answer of Letty's Laundry and Dry Cleaning incorporated and started business on January 1,2011.
  
Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1)through (10)in a vertical column,and inserting at the right of each number the appropriate letter from the following list: 
a.Increase in an asset,decrease in another asset.
b.Increase in an asset,increase in a liability.
c.Increase in an asset,increase in stockholders' equity.
d.Decrease in an asset,decrease in a liability.
e.Decrease in an asset,decrease in stockholders' equity

Letty's Laundry and Dry Cleaning Incorporated and Started Business on January