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:

answer; /// blank(1); increases; blank(2); decreases;