Week 1-CHapter 3 Ex. - FIN 324 - 16103

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Week 1-CHapter 3 Ex. - FIN 324

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Week 1 : Chapter 3 Exercises

 

For PE 3-1 through 3-5, do the following for each transaction:

a. List the accounts impacted by the transaction.

b. For each account, indicate whether the transaction increased or decreased the account.

c. For each account, indicate how much the transaction increased or decreased the

account.

d. Compute the impact of the transaction on total assets, total liabilities, and total owners’

equity.

 

3-1    

Impact of a Transaction