Below is a list of activities. Required: For each activity, indicate the impact on the accounting equation.
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For each activity, indicate the impact on the accounting equation. After doing all the transactions, ensure that the accounting equation remains inbalance.
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Stockholders Equity Transaction Assets Liabilities -+ . Issue common stock in exchange for cash, +S15,000 SO ++S15,000 S15,000 cash, 20,000 in advance, S2,400 salaries in the current period, S17,200 $1,000 on account, S3.750 customers for cash, 2. Purchase equipment for 3. Pay cash for insurance 4. Pay cash for workers 5. Pay accounts payable, 6. Purchase office supplies 7. Provide services to S6,800 8. Provide services to customers on account S12,300 9. Pay cash dividends to stockholders, S2,500 10. Pay cash for utilities in the current period S1,200 Totals
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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