For Each of the Following Events,indicate the Accounts Affected,whether They

question 62

Essay

For each of the following events,indicate the accounts affected,whether they would increase or decrease,and the amount by which they would change.Also demonstrate that the accounting equation will remain in balance after these effects are reported.If the event should not to be recorded as a transaction,state so.
A.Borrowed $7,000,000 cash,signing a promissory note.
B.Bought a factory for $800,000,paying $200,000 in cash and signing a promissory note for $600,000.
C.Rented equipment for $10,000 a month and made a payment for six months in advance.
D.Paid $104,000 for insurance coverage that will begin next month.
E.Purchased $30,000 of supplies on account,of which $10,000 is intended for use next month,and the remainder in later months.
F.Hired 20 workers at $500 a week each and paid all 20 workers for the four weeks of work done during the month.
G.Raised prices by 10%.
H.Received a 50% prepayment from a customer on a $20,000 order to be filled next month.

---

Definitions:

Rape Culture

A sociocultural environment that normalizes, trivializes, and perpetuates rape and sexual violence by blaming victims and excusing perpetrators.

Victim Blaming

The tendency to hold the victim of a crime, accident, or any type of abusive maltreatment to be wholly or partially responsible for the incident.

Sexual Double Standard

A set of social norms that judge or treat sexual behavior differently, often more leniently for males than for females.

Gamified

The application of typical elements of game playing (e.g., point scoring, competition with others) to other areas of activity, often to encourage engagement with a product or service.