Exercise 3-4 Types of Transactions There are three elements to the accounting equation: assets,…


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Exercise 3-4 Types of Transactions There are three elements to the accounting equation: assets,… 1 answer below » Exercise 3-4 Types of Transactions There are three elements to the accounting equation: assets, liabilities, and stockholders’ equity. Although other possibilities exist, five types of transactions are described here. For each of these five types, write descriptions of two transactions that illustrate the type of transaction. View complete question » Type of Transaction Assets ¼ Liabilities þ Stockholders’ Equity 1. Increase Increase 2. Increase Increase 3. Decrease Decrease 4. Exercise 3-4 Types of Transactions There are three elements to the accounting equation: assets, liabilities, and stockholders’ equity. Although other possibilities exist, five types of transactions are described here. For each of these five types, write descriptions of two transactions that illustrate the type of transaction. Type of Transaction Assets ¼ Liabilities þ Stockholders’ Equity 1. Increase Increase 2. Increase Increase 3. Decrease Decrease 4. Decrease Decrease 5. Increase Decrease View less » Jan 29 2016 12:14 PM

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