| E1-25 (book/static) |
|
| a. |
Jake's Roasted Peanuts gave capital after receiving cash from the sole proprietor. |
|
b. |
Cash purchase of land for a building site. |
|
c. |
Paid cash on accounts payable. |
|
d. |
Purchased equipment; signed a note payable. |
|
e. |
Performed service for a customer on account. |
|
f. |
Owner withdrew cash. |
|
g. |
Received cash from a customer on account receivable. |
|
h. |
Borrowed money from the bank. |
Requirement
| 1. |
State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific asset affected. |
| Effects on total assets |
Asset account(s) affected |
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