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Selected transactions for Parton Company are listed below. List the number of the transaction and then describe the effect of each transaction on assets liabilities and owner's equity.
Sample: Made initial cash investment in the business.
The answer would be-Increase in assets and increase in owner's equity.
1. Paid monthly utility bill.
2. Purchased new display case for cash.
3. Paid cash for repair work on security system.
4. Billed customers for services performed.
5. Received cash from customers billed in 4.
6. Withdrew cash for owner's personal use.
7. Incurred advertising expenses on account.
8. Paid monthly rent.
9. Received cash from customers when service was rendered.
Somatic System
Part of the peripheral nervous system that handles voluntary control of body movements through the control of skeletal muscles.
Autonomic System
A part of the peripheral nervous system that controls involuntary bodily functions such as heartbeat, digestion, and breathing.
CNS
Central Nervous System, the part of the nervous system consisting of the brain and spinal cord, which integrates and coordinates bodily functions.
Event-Related Potentials
Brain waves measured by EEG that are the direct result of a specific sensory, cognitive, or motor event, useful in the study of cognitive processes.
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