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:

Clinical Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Suicide

The act of intentionally causing one's own death.

Sexual Abuse

Any unwanted sexual activity, with perpetrators using force, making threats, or taking advantage of victims not able to give consent.

Violence

The use of physical force so as to injure, abuse, damage, or destroy.