Instructions: The assets, liabilities, capital, drawing, revenue, and expenses of Ed Casey, who o

Instructions: The assets, liabilities, capital, drawing, revenue, and expenses of Ed Casey, who operates a small repair shop, are expressed in equation form below. Following the equation are ten transactions completed by Casey. On each of the numbered lines, show by addition or subtraction the effect of each of the transactions on the equation. On the lines labeled “Bal.” show the new equation resulting from the transaction.

 

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