On the form provided, identify the accounts affected by each transaction and the amount of increase or decrease in each account. Make sure the accounting equation is in balance after each transaction. 1. Jan Swift, owner, deposited $30,000 in the business checking account. 2. The owner transferred to the business a desk and chair valued at $700. 3. WordService issued a check for $4,000 for the purchase of a computer. 4. The business bought office furniture on account for $5,000 from Eastern Furniture. 5. The desk and chair previously transferred to the business by the owner were sold on account for $700. 6. WordService wrote a check for $2,000 in partial payment of the amount owed to Eastern Furniture Company.

1. Jan Swift, owner, deposited $30,000 in the business checking account.

Accounts that increase:

Accounts that decrease:

2. The owner transferred to the business a desk and chair valued at $700.

Accounts that increase:

Accounts that decrease:

3. WordService issued a check for $4,000 for the purchase of a computer.

Accounts that increase:

Accounts that decrease:

4. The business bought office furniture on account for $5,000 from Eastern Furniture.

Accounts that increase:

Accounts that decrease:

5. The desk and chair previously transferred to the business by the owner were sold on account for $700.

Accounts that increase:

Accounts that decrease:

6. WordService wrote a check for $2,000 in partial payment of the amount owed to Eastern Furniture Company.

Accounts that increase:

Accounts that decrease:

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know