1. Determine the missing amount from each of the separate situations a, b, and c below.
|
Assets = Liabilities + Equity |
||
|
(a) $ ? |
$ 30,000 |
$ 65,000 |
|
(b) 89,000 |
22,000 |
? |
|
(c) 132,000 |
? |
20,000 |
2. Provide an example of a transaction that creates the described effects for the separate cases a through g.
a. Increases an asset and decreases an asset.
b. Decreases an asset and decreases a liability.
c. Decreases a liability and increases a liability.
d. Increases an asset and increases a liability.
e. Decreases an asset and decreases equity.
f. Increases a liability and decreases equity.
g. Increases an asset and increases equity.