Question: 1A-2. Record the following transactions in the basic accounting equation. Treat each one separately. Assets = Liabilities + Owners Equity a. Matty invests $130,000 in
1A-2. Record the following transactions in the basic accounting equation. Treat each one separately. Assets = Liabilities + Owners Equity a. Matty invests $130,000 in company. b. Bought equipment for cash, $1,100. c. Bought equipment on account, $950.
| ASSETS | = | LIABILITIES | + | OWNER'S EQUITY | ||
| a. | $130,000 | = | + | $130,000 | ||
| b. | $128,900 | = | + | $130,000 | ||
| c. | $128,900 | = | $2,050 | + | 130,000 | |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Study Help