The following transactions occur for Badger Biking Company during the month of June:  Provide services to customers on account for $49,000. Receive cash of $41,000 from customers in (a) above. Purchase bike equipment by signing a note with the bank for $34,000. Pay utilities of $4,900 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.)     a) b) increase b) decrease c) d)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following transactions occur for Badger Biking Company during the month of June:
 

  1. Provide services to customers on account for $49,000.

  2. Receive cash of $41,000 from customers in (a) above.

  3. Purchase bike equipment by signing a note with the bank for $34,000.

  4. Pay utilities of $4,900 for the current month.


Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.)
  

 

a)
b) increase
b) decrease
c)
d)
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