Answer:
a. Increases asset
b. equity increased.
c. Assets increase and liability increased.
d. asset increase and liability increases.
e. Assets decreases and liability decreases
f. Assets increases
g. equity decreases
h. no effect
i. no effect
Explanation:
The transaction incurred by McKay & Company has impact on assets, liabilities and equity. The effect of each transaction is mentioned above. The transaction h and i will have no effect on the accounting equation. the cash received from the client increases cash but the receivables are reduced will off sets the assets side having no impact on accounting equation.