Selected transactions for the Sleezer Company are listed below. 1. Paid monthly utility bill.
2. Purchased new display case for cash.
3. Paid cash for repair work on security system.
4. Billed customers for services performed.
5. Received cash from customers billed in transaction 4.
6. Dividends paid to owners.
7. Incurred advertising expenses on account.
8. Paid monthly rent.
9. Received cash from customers when service was rendered.

1. Paid monthly utility bill.  - Decrease in assets and decrease in stockholders’ equity.

Cash (asset) will be used to pay the utility bill and this will reduce Net Income (stockholders equity).

2. Purchased new display case for cash.  - Increase in assets and decrease in assets.

The new display will be a fixed asset so asset will increase but it will reduce the cash balance which is also an asset.

3. Paid cash for repair work on security system.  - Decrease in assets and decrease in stockholders’ equity.

The repair work is an expense so it will reduce Net income(equity) and it will reduce cash as well.

4. Billed customers for services performed.  - Increase in assets and increase in stockholders’ equity.

This will increase Accounts receivable (asset) and Net Income (equity).

5. Received cash from customers billed in transaction 4.  - Increase in assets and decrease in assets.

This will reduce the Accounts receivable (asset) and increase Cash (asset). There will be no net effect.

6. Dividends paid to owners.  - Decrease in assets and decrease in stockholders’ equity.

This will reduce Cash (asset) as it was used to pay the dividend. It will also reduce Retained earnings (equity).

7. Incurred advertising expenses on account.  - Increase in liabilities and decrease in stockholders’ equity.

Accounts payable increases (liability) and Net income reduces (equity).

8. Paid monthly rent.  - Decrease in assets and decrease in stockholders’ equity.

Cash (asset) will be used to pay the rent and this will reduce Net Income (stockholders equity).

9. Received cash from customers when service was rendered. - Increase in assets and increase in stockholders’ equity.

This will increase Cash (asset) and Net Income (equity).