Accounting Assistance?

tjohnnie · #1 17-07-2007, 14:56

For each of the following items, give an example of a business transaction that has the described effect on the accounting equation.Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease an asset and decrease owner's equity. Decrease an asset and decrease a liability. Increase an asset and increase owner's equity.

asif k · #2 17-07-2007, 15:06

1) Buying a fixed asset(machine) on credit.2) Buying a fixed asset(machine) for cash3) Company buys back its own shares.4)Sell a fixed asset(machine) that you still owed money on.5) Issue stock for cash.

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