Fill out the following chart to show the impact on the accounting equation from each transaction....
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Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable answer box. If a box is not used in the table, leave the box empty.) Stockholders' equity Increase Decrease Increase Decrease Assets Llablities Date Description Purchased office supplies on account for $500 ssued common stock for cash for $5,000 Jan 10 Performed services on account for $2,000. Paid amount owed to vendor for the office Jan 15 supplies purchased on account on January 2 Increase Decrease Jan 2 Jan 4 X X Stockholders' equity Increase Decrease Increase Decrease Increase Decrease Assets Liabilities Date Description Jan 18 Performed services for cash $200 Received cash for payment on account from Jan 21 revenue on January 10 Jan 31 Paid employees for monthly payroll $1,500 Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable answer box. If a box is not used in the table, leave the box empty.) Stockholders' equity Increase Decrease Increase Decrease Assets Llablities Date Description Purchased office supplies on account for $500 ssued common stock for cash for $5,000 Jan 10 Performed services on account for $2,000. Paid amount owed to vendor for the office Jan 15 supplies purchased on account on January 2 Increase Decrease Jan 2 Jan 4 X X Stockholders' equity Increase Decrease Increase Decrease Increase Decrease Assets Liabilities Date Description Jan 18 Performed services for cash $200 Received cash for payment on account from Jan 21 revenue on January 10 Jan 31 Paid employees for monthly payroll $1,500
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Prepare journal entries for better understanding as follows Date Account Titles Deb... View the full answer
Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
Posted Date:
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