Transaction analysis—nonquantitative Indicate the effect of each of the following transactions on total assets, total liabilities, and total owners’ equity. Use + for increase, − for decrease, and (NE) for no effect. The first transaction is provided as an illustration.

   

Assets

Liabilities

Owners’   Equity

a.

Borrowed   cash on a bank loan

+

+

NE

b.

Paid an   account payable

     

c.

Sold   common stock

     

d.

Purchased   merchandise inventory on account

     

e.

Declared   and paid dividends

     

f.

Collected   an account receivable

     

g.

Sold   merchandise inventory on account at a profit

     

h.

Paid   operating expenses in cash

     

i.

Repaid   principal and interest on a bank loan