For Each of the Following Events, Indicate the Amount by Which

question 155

Short Answer

For each of the following events, indicate the amount by which liabilities increased or decreased.
a)Owner invested cash of $20,000 and equipment valued at $10,500 into the business.
b)Purchased $600 of supplies on account.
c)Borrowed $10,000 from the bank, issuing a note payable.
d)Performed a service for $1,500 and immediately collected the cash.
e)Paid the employee salaries of $1,200 cash.
f)Purchased equipment for $550 cash.
g)Received monthly rent bill of $1,300, to be paid in the following period.
h)Performed a service on account for $2,300.

Recognize the role of psychosexual stages in shaping adult personality and behavior.

Illustrate how psychoanalysis interprets psychological disorders as psychogenic.

Understand the concept of fixed and variable costs in business operations.

Calculate and understand the impact of economic profits and losses on business decisions.

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Definitions:

Treaty of Paris

A historic agreement signed to end a conflict or war, notable instances include the 1783 treaty ending the American Revolutionary War and the 1814-1815 treaties following the Napoleonic Wars.

Whigs

A political faction and then a political party in the parliaments of England, Scotland, Great Britain, Ireland, and the United Kingdom, notably supporting the supremacy of Parliament over the monarchy.

Treaty of Paris (1763)

This treaty ended the French and Indian War/Seven Years' War between Great Britain and France, resulting in France ceding Canada and land east of the Mississippi River to Britain.