For Each of the Following Transactions, Indicate the Type by Entering

question 36

Essay

For each of the following transactions, indicate the type by entering "AS" for asset source transaction, "AU" for asset use transaction, "AE" for asset exchange transaction, and "CE" for claims exchange transaction.
1) ____ The company paid $10,000 for a plot of land.
2) ____ Recorded the accrual of $1,000 in salaries to be paid later.
3) ____ The company issued common stock for $20,000 in cash.
4) ____ The business incurred operating expense on account.
5) ____ The business paid off its accounts payable.
6) ____ The business earned revenue to be collected next year.
7) ____ The company paid $2,000 in dividends to its stockholders.
8) ____ The business received cash from customers in #6 above.
9) ____ Paid the salaries accrued in #2 above.
10) ___ Borrowed money from a local bank.

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Definitions:

Nation's Wealth

refers to the total value of all economic assets owned by a country, including natural resources, capital goods, and the net value of its financial assets.

Percentage

A fraction or ratio expressed as a part of one hundred, used to quantify or compare parts of a whole.

Wealth Holders

Individuals or entities that own assets of significant value, which may include money, real estate, investments, and other forms of wealth.

Total Wealth

The aggregate value of all financial and non-financial assets owned by an individual or society, minus any debts.