MATCHING

Match each transactions with its effect on the accounting equation. Each letter may be used more than
once.
a Increase assets, increase liabilities
.
b Increase liabilities, decrease owners equity
.
c Increase assets, increase owners equity
.
d No effect
.
e Decrease assets, decrease liabilities
.
f. Decrease assets, decrease owners equity
1. Received cash for services provided
2. Received utility bill to be paid next month
3. Investment of land by owner
4. Paid part of an amount owed to a creditor
5. Paid cash for the purchase of a one year insurance policy
6. Received payment from a customer on account
7. Cash withdrawal by owner
8. Provided a service to a customer on account
9. Purchased supplies on credit
10. Paid wages
11. Cash investment by owner
12. Borrowed money from a bank
13. Purchased equipment for cash
14. Received cash for providing services to customers
15. Used up supplies that were already on hand

1. ANS: C PTS: 1 DIF: Moderate OBJ: 01-04

NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
2. ANS: B PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
3. ANS: C PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
4. ANS: E PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
5. ANS: D PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement |ACBSP-APC-06-Recording Transactions
6. ANS: D PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
7. ANS: F PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
8. ANS: C PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
9. ANS: A PTS: 1 DIF: Moderate OBJ: 01-04
 NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
10. ANS: F PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
11. ANS: C PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
12. ANS: A PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
13. ANS: D PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
14. ANS: C PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions
15. ANS: F PTS: 1 DIF: Moderate OBJ: 01-04
NAT: AACSB Analytic | AICPA FN-Measurement | ACBSP-APC-06-Recording Transactions