Use the numbers to identify which accounts are involved in the transaction and the letters to identify which account group they are in. Also, use ( + ) to indicate an increase or ( - ) to indicate a decrease to the account group A. Assets L. Liabilities S. Shareholders' Equity D. Dividend R. Revenue 1.Cash 2. Accounts Receivable 3. Prepaid Rent 4.Equipment 5.Accounts Payable 6.Common Stock 7.Dividends 8.Service Revenue 9.Salaries Expense 10.Utilities Expense                                                                                Categories            Accounts           Ex Stockholders invested $20,000 cash in the business A+ S+ 1 6 Prepared rent for 3 months $2000         3. Received $500 in cash for services performed         4. Paid salaries of employees totaling $3000         5. Declared and paid cash dividend to stockholders $500         6. Paid what was owed from #2 above         7. Performed services and billed customer for $500         8. Received and paid electric bill of $425         9. Collected $200 in cash from accounts receivable         10. Paid $1500 for one year insuarance policy

Which of the following accounts are increased with a credit! O Common Stock, Accounts Receivable, Unearned Revenue. Land, Accounts Payable, Common Stock. Accounts Payable, Unearned Revenue, Common Stock. Cash, Accounts Receivable, Common Stock.

The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent data found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs. А. Current assets В. Investments C. Property, plant, and equipment D. Intangible assets Е. Current liabilities F. Long-term liabilities G. Stockholders' equity Н. Not on the balance sheet

Indicate the effect of each of the following transactions on total assets, total liabilities, and total stockholders' equity. Select + for increase, for decrease, or No Effect. The first transaction is provided as an illustration. - a. Borrowed cash on a bank loan b. Paid an account payable c. Sold common stock d. Purchased merchandise inventory on account e. Declared and paid dividends f. Collected an account receivable g. Sold merchandise inventory on account at a profit h. Paid operating expenses in cash i. Repaid principal and interest on a bank loan Assets + Liabilities + Stockholders' Equity No Effect

"Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders’ equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit:A.Accounts PayableB.Accounts ReceivableC.CashD.Common StockE.DividendsF.Fees EarnedG.Office EquipmentH.Rent ExpenseI.SuppliesJ.Wages Expense

The account which increases equity is known as? A. Debit Account B. Credit Account C. Revenue D. Treasury Stock

Identify how each of the following separate transactions through 10 affects financial statements. For increases, place a "i" and the dollar amount in the column or columns. For decreases, place a"- and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease (-) along with dollar amounts. The first transaction is completed as an example. Required: a. For the balance sheet, identify how each transaction affects total essets, total abilities, and total equity For the income statement, identify how each transaction affects net income. b. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from Snancing activities. Transaction 1. Owner invest $300 cash in business in exchange for vock 2 Rives $700 cash for services provided 3 Pays $500 cash for employee wages & Buys $100 of equipment on cred 5 Purchases $200 af supplies on credit &…

In a T-account credits appear   Group of answer choices A. on the left under assets but on the right under liabilities and stockholders’ equity. B. an the right under assets but on the left under liabilities and stockholders’ equity. C. always on the right. D. always on the left.