Selected Transactions for the Sleezer Company Are Listed Below

question 161

Essay

Selected transactions for the Sleezer Company are listed below. List the number of the transaction and then describe the effect of each transaction on assets, liabilities, and stockholders' equity.
Sample: Made initial cash investment in the business.
The answer would be-Increase in assets and increase in stockholders' 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 transaction 4.
6. Dividends paid to owners.
7. Incurred advertising expenses on account.
8. Paid monthly rent.
9. Received cash from customers when service was rendered.

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Definitions:

Goal Statements

Clear, specific articulations of desired outcomes or achievements, often used in personal development and organizational settings.

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A type of fat found in the blood that is vital for the formation of cell membranes, certain hormones, and vitamin D, but high levels can lead to health risks such as heart disease.

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Social-Moral

Refers to the behaviors, practices, and norms that are considered morally acceptable and beneficial to the well-being of society.