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The purpose of this assignment is to help you become familiar with examining transactions and how it affects the balance sheet.
Resources: Financial Accounting: Tools for Business Decision Making
Write a minimum 150-word response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing the effect of each transaction on assets, liabilities, and stockholder’s equity:
Use the Excel® spreadsheet to record your answers and submit with your responses.
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