Brittany D
New member
I'm having trouble with some of these transactions (assets=liabilities+shareholder's equity) and i need to indicate whether it increases (I), decreases (D), or has no effect (NE) on the total dollar amount of each of the elements of the accounting equation.
Land is acquired by issuing shares of stock to the owner of the land.
Cash is collected on an account receivable.
Equipment is purchased for cash.
Land is acquired by issuing shares of stock to the owner of the land.
Cash is collected on an account receivable.
Equipment is purchased for cash.