Show the Effect of Each Transaction on the Three Basic $\$ 16,500$

question 32

Essay

Show the effect of each transaction on the three basic accounting elements by indicating the dollar amount of the increase or decrease under the proper element heading.Compute the resulting accounting equation.
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a. Owner invested $\$ 16,500$ cash in the business.
b. Paid premium for two-year insur ance policy, $\$ 1,500$ .
c. Purchased a van valued at $\$ 35,000$ with $\$ 5,000$ down payment; the bal ance to be paid over three years.
d. Paid the rent for the month, $\$ 900$ .
e. Purchased $\$ 470$ of supplies for cash.
f. Cash sales for the month, $\$ 8,750$ .
g. Billed credit customers $\$ 14,200$ for monthly services.
h. Paid monthly utility bill, $\$ 210$ .
Owner withdrew $\$ 2,200$ for personal use.
Received payments of $\$ 3,300$ from credit customers. ​
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Identify the goals and impacts of employee orientation and socialization processes within organizations.

Comprehend various human resource management functions such as training, mentoring, and coaching.

Understand the legal and ethical considerations in employee dismissal and termination processes.

Appreciate the need for work-life balance and how organizations support it.

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Definitions:

Identical Twins

Twins who develop from a single fertilized egg, sharing the same genetic material.

Polygenic

Referring to a trait that is influenced by multiple genes, often resulting in a continuous range of possible phenotypes.

Skin Colour

Skin colour refers to the pigmentation of an individual's skin which is primarily determined by genetic inheritance and exposure to sunlight.

Phenotypic Similarity

The degree to which two or more organisms resemble each other in their observable characteristics, due to genetic or environmental influences.