BUSINESS TRANSACTIONS EFFECT

1. Purchased supplies for cash. What accounting element being affected?

• Increased in Asset Decreased in Asset

• Increased in Liabilities

  Decreased in Liabilities

• Increased in OE and Decreased in OE

• Increased in Asset Deceased in Asset

2. Paid salary of employees.

• Decreased in Owner's Equity

  Increase in Assets

• Decreased in Assets

  Decreased in Owner's Equity

• Increased in Liabilities Decreased in Assets

• Increased in Owner's Equity Increased in Assets

3. Bought computer set on account.

• Increased in Assets

  Increased in Liabilities

• Increased in Assets

  Decreased in Assets

• Increased in Liabilities

  Decreased in Liabilities

• Increased in Assets

  Increased in OE

4. Rendered service to customer on account.

• Increased in Assets

  Increased in OE

• Increased in Assets

  Decreased in OE

• Increased in OE

  Decreased in Assets

• Increased in Liabilities

  Decreased in Assets

5.Received cash as payment for the service rendered.

• Increased in OE

  Decreased in Assets

• Increased in Assets

  Increased in OE

• Increased in Liabilities

  Decreased in Liabilities

• Increased in OE

  Decreased in OE