Indicate How Each of the Following Transactions Affect Assets by Entering

question 101

Essay

Indicate how each of the following transactions affect assets by entering + for increase,- for decrease,or NA if total assets are not affected.Enter only one item for each answer.
_______ 1)Issued stock to investors.
_______ 2)Borrowed cash from the bank.
_______ 3)Provided services for cash.
_______ 4)Paid operating expenses.
_______ 5)Purchased land for cash.
_______ 6)Paid cash dividend to the stockholders.
_______ 7)Repaid the bank loan.

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Definitions:

Undisclosed Principal

In an agency relationship, a principal whose identity is not revealed to the third party by the agent.

Implied Authority

Authority of an agent that is not expressly granted but assumed to be given as necessary to perform tasks related to their job.

Actual Authority

The explicit power granted to an agent or representative by the principal to perform certain acts on their behalf.

Principal's Ratification

The formal approval by a principal (party in authority) of an act performed on their behalf, usually validating a previously unauthorized act.