For Each of the Following, Identify the Type of Event

question 42

Essay

For each of the following, identify the type of event as asset source (AS), asset use (AU), asset exchange (AX), or claims exchange (CX). Also show the effect (increase or decrease) of each transaction on the components of the accounting equation. Write "NA" under any element not affected.
1) Debited cash and credited common stock.
2) Debited accounts receivable and credited service revenue.
3) Debited office supplies and credited accounts payable.
4) Debited prepaid rent and credited cash.
5) Debited cash and credited accounts payable.
6) Debited accounts payable and credited cash.
7) Debited dividends and credited cash.
8) Debited rent expense and credited prepaid rent.

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Definitions:

Extinction

The end of an organism or of a group of organisms, usually a species.

Migration Routes

The paths or directions taken by animals or people as they move from one location to another, often seasonally or cyclically.

Evolutionary Potential

The capacity of a species or a population to adapt and evolve over time in response to environmental changes, genetic variability, and selection pressures.

Gene Pool

The complete set of genetic information within all individuals of a population or species.