1. Purchased computers for $20,000 from Digital Equipment on account.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
2. Paid $4,000 cash for May rent on storage space.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
3. Received $17,000 cash from customers for contracts billed in April.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
4. Performed computer services to Viking Construction Company for $4,000 cash.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
5. Paid Tri-State Power Co. $11,000 cash for energy usage in May.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
6. Falske invested an additional $29,000 in the business.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
7. Paid Digital Equipment for the computers purchased in (1) above.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
8. Incurred advertising expense for May of $1,200 on account.
An increase in assets and a decrease in assets An increase in assets and an increase in owners equity An increase in assets and an increase in liabilities A decrease in assets and a decrease in owners equity A decrease in assets and a decrease in liabilities An increase in liabilities and a decrease in owners equity An increase in owners equity and a decrease in liabilities
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