Several transactions are listed below, with the accounting equation stated to the right side of each. Use the following identification codes to indicate the effects of each transaction on the accounting equation. Write your answers in the space provided under the accounting equation. You need an identification code for each element of the accounting equation. An example is given before the first transaction.
Definitions:
Yogi Berra
An American professional baseball catcher, who was known for his humorous and paradoxical quotes.
Freedom Loving
A value or trait characterized by a strong desire for autonomy and self-determination in one's actions and choices.
Underestimating Opponent
The act of making a judgment that your adversary or competitor is less capable or determined than they actually are.
Backfire
A situation where an attempt to achieve a result leads to the opposite effect, often worsening the situation.
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