Question

accounting help

Answer 1

Evaluate how does each of the following transactions affect the three parts of the accounting equation?

A. Owner transfer of cash from personal savings account to the business

B. Owner withdrawal of cash from the business for personal use

C. Purchase of equipment for cash

D. Purchase of equipment on credit

E. Issued check for payment on Transaction D

F. Received payment for design consulting

G. Issued check to pay telephone bill