Question

For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Enter a
minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if
necessary
Trans. No. Assets = Liabilities + Owner's Equity
1
2
3
4
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Answer 1

Answer:

the question is incomplete, so I looked for similar ones:

Transactions: 1. Bought supplies on account. 2. Received cash from owner as an investment. 3. Paid cash for prepaid insurance. 4. Paid cash on account.

1) When you buy supplies on account, both assets (supplies) and liabilities (accounts payable) increase.

2) When a company receives cash from its owners, its assets (cash) and equity (paid in capital) increase.

3) When a company pays cash for insurance, total assets will not be affected because on asset account (cash) will decrease while other asset account (prepaid insurance) will increase.

4) Paying cash in order to cancel or partially pay for accounts payable will decrease both assets (cash) and liabilities (accounts  payable).

          Assets = Liabilities + Owner's Equity

1)              +             +                    

2)             +                                    +

3)           + / -

4)              -             -