Indicate How Each of the Following Transactions Affects Assets by Entering

question 156

Essay

Indicate how each of the following transactions affects assets by entering "+" for increase, "−" for decrease, or "+/− " if an event increases one asset account and decreases another asset account. 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:

Total Cost Variance

The difference between the actual cost and the standard or expected cost of goods or services produced over a given period.

Standard Cost

A predetermined cost of manufacturing a product or providing a service, used for budgetary and inventory purposes.

Price Variance

The difference between the standard cost of a product or service and its actual cost, used in budgeting and financial analysis.

Quantity Variance

A measure used in budgeting and accounting to compare the actual quantity of materials or products used to the expected amount under standard costing.