For each transaction a through f, identify its impact on the accounting equation (select from 1 through 5 below). a. The company pays cash toward an account payable. b. The company purchases equipment on credit. The owner invests cash in the business. d. The owner withdraws cash from the business. The company purchases supplies for cash. The company provides services for cash. A.Decreases an asset and decreases equity. B.Increases an asset and increases a liability. C.Decreases an asset and decreases a liability. D.Increases an asset and decreases an asset. E.Increases an asset and increases equity."

which of the following is an operating avtivity? A. billing customers for services rendered but not yet paid for B. paying off a loan to the bank C. purchasing equipment for cash D. receiving cash investments from owners

Here is question The purpose of this assignment is for you to demonstrate your ability to record business transactions and then prepare a properly formatted income statement and balance sheet. The one additional requirement is that you answer the questions that you find below. Questions to be answer 1. What is the company's ending Cash balance? What is the company's ending Equity? Why is cash not equal to equity? 2. What is the company's net income for the period? 3. If you had to repay your creditors today, could you? Explain. 4. The company made a small amount of net income over the month. Explain why the equity actually decreased over the period. 5. You have recorded journal entries for the period of a month. If you were told that the business license in T12 was a annual expense, would this impact the reported net income? Explain why or why not.

accounting records the impact of a business event when it occurs, regardless of whether the transaction affected cash

For each of the following independent transactions, indicate whether there was an Increase, a Decrease, or No Impact for each financial statement element. Transaction Assets Liabilities Owners' Equity Received cash from customer on account Borrowed cash from bank Received and recorded utility bill Paid dividends to owners Performed services and billed customer PLEASE NOTE: You are to use the following words - "Increase", "Decrease", or "No Impact" - when you fill in the blanks (Capitalize and omit the quotation marks).

A business provider services to a customer on credit.Which of the following is correct: A.Assets increase and liabilities decrease at the time the cash is collected B.Assets increase and liabilities increase at the time of the sale C.Assets increase and the owner's equity increases at the time the cash is collected D.Assets increase and the owner's equity increases at the time of the sale