Concept – Accounting Equations
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
An event which has a dual effect on accounting equation is
Concept – Accounting Systems
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Which accounting system shows the effect each transaction has on accounting system
Concept – Ace Cleaning Services
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Ace Cleaning Services does cleaning services for $2,500 in cash. Determine e the effects on the equation.
Concept – Analyze Impact on Accounting Equation, Shocker Corp
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
For transactions for Shockers Incorporated indicate increase, decrease, no effect for stock, equipment, provide services, pay rent, etc.
Concept – Balance Sheet Effects Office Supplies Purchased
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
With the use of office supplies purchased (on account) in previous period will have what effect on the equation?
Concept – Borrowing Cause
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Borrowing cash from a bank and signing a note payable has what effect?
Concept – Cash Accounts
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
For payment of an account for supplies purchased in the previous month will increase or decrease the cash account.
Concept – Companies and Banks
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Suppose a company debits cash to increase its cash account. A bank would debit or credit the customer’s checking account?
Concept – Conner Corporation Purchases Supplies
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Conner Corporation purchases supplies on account. This will increase/decrease assets and increase/decrease liabilities.