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Analyze the following transactions as to their effect on the accounting equation.
(a)The company paid $725 to a vendor for supplies purchased previously on account.
(b)The company performed $850 of services and billed the customer.
(c)The company received a utility bill for $395 and will pay it next month.
(d)The owner of the company withdrew $145 of supplies for personal use.
(e)The company paid $315 in salaries to its employees.
(f)The company collected $730 of cash from its customers on account.Some of the possible effects of a transaction on the accounting equation are listed below Put the appropriate letter next to each transaction.
Catatonic Stupor
A state of unresponsiveness to the environment in which a person remains motionless and silent for long periods, often associated with schizophrenia or other psychiatric disorders.
Drapetomania
A discredited 19th-century hypothesis that purported to diagnose a mental illness causing enslaved Africans to flee captivity.
Psychologists
Professionals who study cognitive, emotional, and social processes and behavior by observing, interpreting, and recording how individuals relate to one another and to their environments.
Posttraumatic Stress Disorder
A psychiatric disorder that may occur in people who have experienced or witnessed a traumatic event.
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