The following transactions were completed by the company: a. The owner invested $17,400 cash in the...
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The following transactions were completed by the company: a. The owner invested $17,400 cash in the company. b. The company purchased supplies for $1,100 cash. c. The owner invested $11,200 of equipment in the company in exchange for more combon stock. d. The company purchased $320 of additional supplies on credit. e. The company purchased land for $10,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets a. Transactions Number Cash 400 Liabilities Equity Supplies Equipment + Land = Accounts Payable + Common Stock - Dividends + + = + The following transactions were completed by the company: a. The owner invested $17,400 cash in the company. b. The company purchased supplies for $1,100 cash. c. The owner invested $11,200 of equipment in the company in exchange for more combon stock. d. The company purchased $320 of additional supplies on credit. e. The company purchased land for $10,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets a. Transactions Number Cash 400 Liabilities Equity Supplies Equipment + Land = Accounts Payable + Common Stock - Dividends + + = +
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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