Question: Describe how transactions of Lucent Technologies, Inc., would affect the three elements of the accounting equation.
a. Received cash from issuing stock.
b. Paid off long-term debt.
c. Received proceeds from selling a portion of manufacturing operations for a gain on the sale.
d. Paid dividends.
e. Made cash sales.
f. Received cash from the issuance of long-term debt.
g. Paid research and development expenses for the current year.
h. Paid employee pension expenses for the current year.
i. Paid taxes.
j. Purchased machinery and equipment for cash.
k. Paid officer salaries.
l. Paid selling expenses.