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  3. for each of the transactions listed below, record

For each of the transactions listed below, record whether it would result in an increase...

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Question

Accounting

For each of the transactions listed below, record whether it would result in an increase or decrease in assets, liabilities, and/or net assets.

Assets

Liabilities

Net Assets

Transaction

Up

Down

Up

Down

Up

Down
  1. Earns revenue by satisfying a performance obligation
  1. Receives a donor pledge
  1. Purchase supplies with cash
  1. Purchases supplies with cash
  1. Purchases supplies on account
  1. Takes out a loan
  1. Receives payment on a pledge
  1. Makes a payment on an amount it owes
  1. Pre-pays for insurance
  1. Uses prepaid insurance
  1. Uses supplies
  1. Uses capitol asset
  1. Receives cash in advance of providing goods or services to a client
  1. Provides goods and services to a client in exchange for a cash payment that was made in advance
  1. Employs workers who can ear wages
  1. Pays employee wages that have been earned
  1. Deems a portion of the pledge uncollectable
  1. Pays interest on a loan

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