For Each of the Following,identify the Type of Event as Asset

question 116

Essay

For each of the following,identify the type of event as asset source (AS),asset use (AU),asset exchange (AX),or claims exchange (CX).Also show the effect (increase or decrease)of each transaction on the components of the accounting equation.Write "NA" under any element not affected.
1)Debited cash and credited common stock.
2)Debited accounts receivable and credited service revenue.
3)Debited office supplies and credited accounts payable.
4)Debited prepaid rent and credited cash.
5)Debited cash and credited accounts receivable.
6)Debited accounts payable and credited cash.
7)Debited dividends and credited cash.
8)Debited rent expense and credited prepaid rent.

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Definitions:

Core Emotions

Fundamental human emotions that are universally recognized and experienced across cultures, such as happiness, sadness, fear, disgust, anger, and surprise.

Contempt

A feeling of disdain or scorn towards someone or something considered worthless or inferior.

Extended Contact Hypothesis

A theory suggesting that prejudice can be reduced through indirect contact with an outgroup via a third party, expanding empathy and understanding.

Conflict

A situation or period of struggle or disagreement between people with opposing needs, beliefs, or interests.