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:

Completely Randomized Design

An experimental design where all subjects or experimental units are randomly assigned to treatments or control groups, ensuring that any variation among the treatments is due to the treatment effect and random chance alone.

Analysis of Variance

A statistical method used to compare the means of three or more samples to determine if at least one sample mean is significantly different from the others.

Null Hypothesis

A default assumption that there is no significant difference or effect, to be tested against an alternative hypothesis in statistical testing.

Mean Yields

The average outcomes produced or returns obtained from different experiments or investments.