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  3. presented below are nine business transactions, in

Presented below are nine business transactions, Indicate the effect of each transaction on each element...

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Accounting

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Presented below are nine business transactions, Indicate the effect of each transaction on each element of the accounting equation. (a) Purchased $210 of supplies on account. (b) Performed $550 of services on account. (c) Paid $279 of operating expenses. (d) Paid $210 cash on account for the supplies purchased in item (a) above. (e) Invested $1,124 cash in the business. (f) Owner withdrew $418 cash. (g) Hired an employee to start working the following month. (h) Received $550 from a customer who had been billed previously in item (b) above. (i) Purchased $466 of equipment in exchange for a note payable. Use the following format, in which the first one has been done for you as an example: (If a transaction couses a decrease in Assets. Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.)

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