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:

Lab

A short form for laboratory, it refers to a controlled setting where scientific experiments, measurements, and research are conducted.

Follow-Up Examination

A medical appointment scheduled after an initial consultation or treatment, aimed at assessing a patient's progress or the effectiveness of intervention.

Lab

A shortened term for a laboratory, a controlled setting designed for scientific experiments, research, or testing.

Blood Pressure

The pressure of circulating blood against the walls of blood vessels, critical in maintaining organ perfusion and health.