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Analyze Transactions on an Accounting Equation Worksheet 2
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Type the following questions and the correct answers in Word. Use the links provided to help you complete this worksheet. What are debits? WhWhy do we use an accounting equation? Write out the accounting equation? After viewing the sample transactions in the link provided, type out the accounting equation in Excel and analyze the following transactions. Type them under the accounting equation as a debit or credit and if they increase or decrease as shown in the link. Transactions 1. Paid cash for telephone bill, $100 2. Received cash from owner as an investment, $200 3. Paid cash for rent, $500 4. Received cash for sales, $895 5. Bought supplies on account from Sickle Company, $600 6. Sold services on account to Dorothy Roman, $920 7. Paid cash for supplies, $400 8. Paid cash for advertising, $250 9. Received cash on account from Dorothy Romano, $800 10. Paid cash on account to Sickle Company, $1500 11. Paid cash for one month of insurance, $250 12. Received cash from sales, $1960 at are credits? |