For Each of the Following Indicate Whether the Transaction Increased

question 12

Essay

For each of the following indicate whether the transaction increased (+) decreased (-) or had no effect (NE) on assets liabilities and owner's equity using the following format.
Assets = Liabilities + Owner's Equity
1. Made an investment to start the business.
2. Billed customers for services performed.
3. Purchased equipment on account.
4. Withdrew cash for personal use.
5. Paid for equipment purchased in 3. above.

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Definitions:

Symbolic Systems

Complex sets of symbols and rules for combining them that are used for communication, thinking, and cultural representation.

Natural Selection

The evolutionary process by which organisms better adapted to their environment tend to survive and produce more offspring.

Behavioral Phenotypes

Observable characteristics or behaviors that result from the interaction of genotype and environment.

Canalized

A process by which the genetic development of an organism is guided by the environment so that a certain phenotype is produced regardless of variability in the environment or genetics.