determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis received $120 from a customer who owed money from an event Mr. Davis attended last month.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis purchased shampoo, razors and towels for his house.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

A client gave Mr. Davis $500 to cut his son’s hair for the entire year. Mr. Davis has not met the son yet.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis purchased $123 worth of hair clippers for his shop with his company credit card.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis paid $2,000 cash for a new car for his son who is in college.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis performed services for a client for $110. He received $50 from the client immediately, but he will receive the remainder in three weeks.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis paid off $200 of his $1,000 company credit card bill.

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

Mr. Davis received $238 to provide services before a wedding in five months

determine if the service business transactions increase assets or liabilities for the business. Remember, some transactions may have an increase in both assets and liabilities or may not be considered business transactions.

On January 28, Mr. Davis determined his employees made a total of $8,000 for the month. They get paid on the last day of every month.