The Accountant of Action Adventure Games, Inc $\text {June}$ 10 $\quad$

question 27

Essay

The accountant of Action Adventure Games, Inc. prepared a balance sheet after every 10 day period. The only resources invested by the owner were at the start of the company on June 1. During June, the first month of operation, the following balance sheets were prepared: Required:
Describe the nature of each of the four transactions that took place between the balance sheet dates shown. Assume only one transaction affected each account. $\text {June}$
10 $\quad$$\underline{\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad}$
20 $\quad$$\underline{\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad}$
30 $\quad$$\underline{\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad}$
$\quad$$\quad$$\underline{\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad}$

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Definitions:

Straight-Line

A technique for computing depreciation or amortization that involves uniformly distributing an asset's cost across its lifespan.

Assets

Resources owned by a person or entity that are expected to provide future economic benefits.

Depreciation Expense

An accounting method that allocates the cost of tangible asset over its useful life, reflecting how the asset loses value over time.

Accumulated Depreciation

The total depreciation of an asset up to a specific point in time, reflecting wear and tear or obsolescence.