Selected Transactions for Parton Company Are Listed Below

question 81

Essay

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.

---

Definitions:

Gary Vaynerchuk

Gary Vaynerchuk is a prominent entrepreneur, author, speaker, and internet personality known for his expertise in digital marketing and social media.

Viral Sensation

Content or a phenomenon that quickly becomes extremely popular and widely shared across the internet, often through social media platforms.

Chewbecca Mask

A popular mask representing Chewbacca, a character from the Star Wars franchise, which gained viral attention through social media.

Branded Content

Branded content is a marketing strategy that involves creating content specifically tied to a brand, aiming to entertain, inform, or engage the target audience while promoting the brand indirectly.