In the columns below, indicate whether each transaction caused and increase (+), a decrease (-), or no change (NC) in assets, liabilities, and owner’s equity. Transaction Assets Liabilities Owner’s equity a. Withdrawal of cash by owner __________ __________ __________ b. Purchase of an asset for cash __________ __________ __________ c. Purchase of an asset on account __________ __________ __________ d. Received, but did not pay, water bill __________ __________ __________ e. Paid wages not previously recorded __________ __________ __________ f. Invested equipment in the business __________ __________ __________ Transaction Assets Liabilities Owner’s equity a. Withdrawal of cash by owner __________ __________ __________ b. Purchase of an asset for cash __________ __________ __________ c. Purchase of an asset on account __________ __________ __________ d. Received, but did not pay, water bill __________ __________ __________ e. Paid wages not previously recorded __________ __________ __________ f. Invested equipment in the business __________ __________ __________ Solution Answer:TransactionAssetsLiabilitiesOwner’s equitya. Withdrawal of cash by owner(-)NC(-)b. Purchase of an asset for cash(+)(-)NCNCc. Purchase of an asset on account(+)(+)NCd. Received, but did not pay, water billNC(+)(-)e. Paid wages not previously recorded(-)NC(-)f. Invested equipment in the business(+)NC(+).