Montgomery Company experienced the following events during Year 1 (all were cash events):
Issued a notePaid operating expensesIssued common stockProvided services to customersRepaid part of the note in event 1Paid dividends to stockholders
Required:Indicate how each of these events affects the accounting equation by writing the letter "I" for increase, the letter "D" for decrease, and "NA" for no effect under each of the elements of the accounting equation. Use only one item of entry in each column. (The effects of the first event are shown below.)

Question

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The Answer of Montgomery Company experienced the following events during Year 1 (all were cash events):
Issued a notePaid operating expensesIssued common stockProvided services to customersRepaid part of the note in event 1Paid dividends to stockholders
Required:Indicate how each of these events affects the accounting equation by writing the letter "I" for increase, the letter "D" for decrease, and "NA" for no effect under each of the elements of the accounting equation. Use only one item of entry in each column. (The effects of the first event are shown below.)

Montgomery Company Experienced the Following Events During Year 1 (All