For each transaction numbered 1 through 6 below, identify its effects on the accounting equation by selecting from the effects listed in a through
f. You may use each letter more than once or not at all.

____ 1. Equipment is purchased by incurring a long-term mortgage payable and paying the balance in cash
____ 2. Paid for transportation of equipment shipped from the vendor to our plant
____ 3. Paid for speeding ticket received while transporting the equipment to the manufacturing plant
____ 4. Depreciated the equipment during the first year of use
____ 5. Paid for lubrication and periodic tune ups of the equipment
____ 6. Sold the equipment, receiving more money than its book value

Question

For each transaction numbered 1 through 6 below, identify its effects on the accounting equation by selecting from the effects listed in a through
f. You may use each letter more than once or not at all.
  
____ 1. Equipment is purchased by incurring a long-term mortgage payable and paying the balance in cash
____ 2. Paid for transportation of equipment shipped from the vendor to our plant
____ 3. Paid for speeding ticket received while transporting the equipment to the manufacturing plant
____ 4. Depreciated the equipment during the first year of use
____ 5. Paid for lubrication and periodic tune ups of the equipment
____ 6. Sold the equipment, receiving more money than its book value

Quizplus · Accepted Answer

The Answer of For each transaction numbered 1 through 6 below, identify its effects on the accounting equation by selecting from the effects listed in a through
f. You may use each letter more than once or not at all.
  
____ 1. Equipment is purchased by incurring a long-term mortgage payable and paying the balance in cash
____ 2. Paid for transportation of equipment shipped from the vendor to our plant
____ 3. Paid for speeding ticket received while transporting the equipment to the manufacturing plant
____ 4. Depreciated the equipment during the first year of use
____ 5. Paid for lubrication and periodic tune ups of the equipment
____ 6. Sold the equipment, receiving more money than its book value

For Each Transaction Numbered 1 Through 6 Below, Identify Its