Question

Set up an accounting equation spreadsheet and enter each of the following economic events into it.
a. A car is purchased for $25,000 cash.
b. A car is purchased for $15,000 cash and $10,000 financed through the dealer.
c. A corporation sells common shares to investors for $100,000.
d. A corporation pays $1,000,000 in dividends to shareholders.
e. A corporation declares dividends of $1,000,000. The dividends will be paid in
30 days.
f. A corporation pays $1,000,000 of dividends that were previously declared.
g. A company sells goods to a customer for $300 cash. The goods cost $200.
h. A company sells goods to a customer for $300. The goods cost $200. The customer promises to pay in 30 days.
i. A company collects $1,000 that is due from a customer.



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  • CreatedFebruary 26, 2015
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