for each of the accounting events that follow(A-F), indicate in the space provid

Question

for each of the accounting events that follow(A-F), indicate in the space provided the appropriate number designing the effect of that event, if none of the options applies, use NA for not applicable

. 1 increase assets, increase OE

2 increase asset, increase Liabilities

3 increase asset, decrase assets

4 decrase assets, decrease liablities

5 decrease assets, decreases OE

A: paid an obligation of $1300

B: paid rent of $4200 in advance for the year.

C purchase office upplies costing 1500 on account

D obtained a loan of 5000 from FIRST BANK

E provided service to a customer on account

F collected $500cash from a customer who had previously been billed

Explanation / Answer

b c a e d

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.