#1
Help:

Describe how the following business transactions affect the three elements of the accounting equation.

Accounting Equation = ASSESTS = LIABILITIES + OWNERS EQUITY

A.) Purchased supplies on account
B.) Purchased supplies for cash
C.) Paid for utilities used in bussiness
D.) Received cash for services performed
E.) Invested cash in business


*** If anyone knows where I can get some extra help for my accounting class that would be helpful aswell. Some site in can look up on the internet would be great***
LAISSEZ LES BON TEMPS ROULER
#2
I'd get my brother to help he's a trainee account...
... but hes asleep / drunk...
#3
Quote by StonaLemons
I'd get my brother to help he's a trainee account...
... but hes asleep / drunk...



Wake him up and ask him. If he is drunk then make your own thread about your encounter
#4
I wish I was asleep / drunk... I'm skipping class to study for an exam...
LAISSEZ LES BON TEMPS ROULER
#5
A) Liabilities increased (you got them on account)
B) Don't understand the wording for this one. . .
C) Liabilities decreased (paying the bills)
D) I believe that's a plus to O.E.
E) I think that's a plus to O.E. as well.

I took accounting my Freshman year so I'm not 100% on all those answers.
#7
For "B.)"... thats how the question is worded in the book.

Im thinking its the cash he got from the output of the supplies used... maybe?
LAISSEZ LES BON TEMPS ROULER
#9
ask your teacher for help lol
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#11
Help me understand this?

Does revenue awswell as owners investments increase owners quity????
LAISSEZ LES BON TEMPS ROULER