Inferring Typical Investing and Financing Activities in Accounts
The following T-accounts indicate the effects of normal business transactions:

Required:
1. Describe the typical investing and financing transactions that affect each T-account. That is, what economic events occur to make each of these accounts increase and decrease?
2. For each T-account, compute the missingamounts.

Transcribed Image Text:

Equipment 500 250 | ? Notes Receivable Notes Payable 1/1 1/1 150 225 170 100 170 1/1 12/31 12/31 100 160 12/31