For Each of the Following Transactions,determine Whether or Not There

question 151

Essay

For each of the following transactions,determine whether or not there is an increase,decrease,or no change in total assets.
a.The owners each contributed $4,000 to start the business.
b.Paid monthly rent of $1,200.
c.Received $11,300 in cash from sales.
d.Recorded a decrease in inventory of $4,500 for the amounts sold.
e.Purchased equipment worth $7,500 with cash.
f.Borrowed $9,000 from the bank.
g.Paid employees $860.
h.Purchased $4,400 worth of inventory for cash.

---

Definitions:

Détente

A period of improved relations and reduction in tensions between countries, especially notable between the United States and the Soviet Union during the Cold War.

Soviet Expansion

describes the geopolitical strategy pursued by the Soviet Union during the 20th century aimed at spreading its influence and control over Eastern Europe, Asia, and other regions through military, political, and economic means.

Secretary of State Kissinger

Henry Kissinger, who served as the U.S. Secretary of State under Presidents Nixon and Ford, known for his role in shaping foreign policy, including détente with the Soviet Union and opening relations with China.

Israel and Egypt

Israel and Egypt are two countries in the Middle East that signed the Camp David Accords in 1978, leading to the Egypt-Israel Peace Treaty in 1979.