For each transaction, indicate whether the balance of total assets, liabilities and owner’s equity (OE) increased, decreased
or did not change.
Transaction
#
Description Assets Liabilities Owner’s Equity
1 Paid salaries for current month.
2 Purchased equipment on credit.
3 Purchased furniture using cash.
4 Additional investment into the business.
5 Received immediate payment for services
provided.
6 Made partial payment for equipment purchased
on credit.
7 Billed customers for services performed.
8 Withdrew cash for personal use.
9 Received payment from customers already billed.
10 Received bills for current utilities to be paid next
month.
