Several Transactions Are Listed

question 53

Short Answer

Several transactions are listed. Use the choices to identify the effect on the accounting equation for each transaction listed. (Choices may be used more than once.)
a.Assets and liabilities increase
b.Assets and contributed capital increase
c.Assets and retained earnings increase
d.Two asset accounts are impacted, but there is no net effect on total assets
e.Assets and liabilities decrease
f.Assets and retained earnings decrease
g.Liabilities increase and retained earnings decrease
h.Liabilities decrease and retained earnings increase
-Paying dividends to investors

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Definitions:

Three-dimensional Pie Chart

A graphical representation of data in the form of a three-dimensional circle divided into sectors, illustrating proportional relationships in a dataset.

Sales

The transactions or activities involved in selling goods or services in exchange for money or other compensation.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Bar Chart

A graphical representation of data using bars of varying heights or lengths to show comparisons among categories.