Selina Kyle opens a personal training firm on November 1. Analyze each of the following transactions...

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Selina Kyle opens a personal training firm on November 1. Analyze each of the following transactions in a table using the accounting equation. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1. 2. 3. 4. 5. The owner invested $40,000 cash in the business. The company purchased $3,000 of training equipment on credit. The company received $5,000 cash in exchange for a note payable from the bank. The company paid $800 for three months' worth of training supplies. The owner withdrew $2,200 cash for personal use. Selina Kyle opens a personal training firm on November 1. Analyze each of the following transactions in a table using the accounting equation. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1. 2. 3. 4. 5. The owner invested $40,000 cash in the business. The company purchased $3,000 of training equipment on credit. The company received $5,000 cash in exchange for a note payable from the bank. The company paid $800 for three months' worth of training supplies. The owner withdrew $2,200 cash for personal use.

Answer rating: 100% (QA)

Heres a table summarizing the transactions Transaction Assets Liabilities Owners Equity 1 40000 4000... View the full answer