The general manager of a business encounters many different types

 

The general manager of a business encounters many different types of business transactions. Provide an example for each of the following transactions that would describe its effect on the accounting equation. Each situation is independent of the other situations.

  1. The transaction would increase an asset account and increase a liability account.
  2. The transaction would decrease an asset account and decrease the owner’s equity account.
  3. The transaction would increase an asset account and increase the owner’s equity account.
  4. The transaction would decrease an asset account and decrease a liability account.

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