The Following Are Transactions for the City of Franklin

question 10

Essay

The following are transactions for the city of Franklin.
a.Borrowed $20,000 by issuing a two-year note.
b.Purchased equipment for $6,000 cash.
c.Licenses for $700 were billed on account.
d.Accrued employee salary costs of $7,000.
e.Depreciation expense on equipment for year,$1,000.
Required:
Analyze the above transactions by using the accounting equation for a proprietary fund.

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Definitions:

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The branch of microbiology concerned with the study of bacteria, their structure, function, and role in disease.

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A solution containing 10% sodium hypochlorite, commonly used for disinfection or stain removal due to its strong oxidizing properties.

Contaminated Surface

A surface that has been exposed to potentially harmful microorganisms or chemicals, posing a risk of infection or injury.