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

question 132

Short Answer

For each of the following events, indicate the amount by which assets 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 month.
h)Performed a service on account for $2,300.

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Definitions:

Habituation

The process by which an individual becomes accustomed to a stimulus through repeated exposure, leading to a decrease in response.

Stimulus

Anything in the environment that is perceptible and can elicit a physiological or psychological response.

Sensitive

Exhibiting a high degree of awareness to external stimuli or the needs and feelings of others; easily influenced or affected.

Prenatal Sex Hormones

Hormones present before birth that play crucial roles in the development of sexual characteristics and reproductive systems.