The Following Transactions Occurred at Clarkson Company:
1 1
2
3

question 1

Essay

The following transactions occurred at Clarkson Company:
1.The company acquired $200 of inventory on credit.
2.The company rendered services billed at $100 on account.
3.The company paid $175 in accounts payable.
4.The company's owner invested $375 in cash.
5.The company acquired equipment costing $575 on account.
6.The company paid $25 for inventory.
Required:
In the chart below,indicate if each transaction increases,decreases or has no effect on Assets,Liabilities and Stockholders' Equity.
$\begin{array} { l l l l } \text { Transaction } & \text { Assets } & \text { Liabilities } & \text { Stockholders' Equity } \\ & \text { Increase } & \text { Increase } & \text { No effect } \end{array}$
1.
2.
3.
4.
5.
6.

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