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

question 4

Short Answer

For each of the following events, indicate the amount by which liabilities increased or decreased.
a)Owner invested cash of $25,000 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.

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Definitions:

Successful Vision

A clear, inspirational and strategic plan for the future that is communicated effectively and embraced by others.

Uplifting and Inspiring

Actions or communication that motivate individuals to improve themselves and their circumstances, fostering a positive and enthusiastic environment.

Visioning Application

The process of using one's vision or foresight in practical scenarios to guide decisions and create future plans.

Leaders

Leaders are individuals who influence and guide others towards the achievement of goals, often characterized by their ability to inspire, motivate, and make strategic decisions.