A B C 1 RETL 261 G H Chapter 1 K M N o P R S Transaction Grid Williams 2 3 REQUIRED: Analyze the following transactions for FastForward using the accounting equation 4 5 1.) The owner, Chuck Taylor, invests $30,000 cash in the business to start it up. 6 2.) FastForward purchases supplies for cash, $2,500. 7 3.) FastForward purchases equipment for cash, $26,000. 8 4.) FastForward purchases supplies on credia, $7,100. 9 5.) FastForward eams revenue by providing consulting services to clients and receives cash, $4,200. 10 6.) FastForward pays the landlord for the month's rent expense, $1,000 cash. 11 7.) 12 8.) 13 9.) 14 10.) 15 11.) 16 FastForward pays its employee wages for the week worked, $700 cash. FastForward provides consulting services, $1,000, and rents out its facilities, $300, for revenue and bills its clients for payment. The client in transaction 8 above pays FastForward when I receives the bill ten days later, $1,900. FastForward makes a partial payment on the supplies purchased in transaction 4 above, $900. The owner, Chuck Taylor, withdraws cash from the business, $200. LIABILITIES + 17 18 ASSETS EQUITY 19 20 Cash Accounts Receivable Supplies Equipment Accounts Payable . C. Taylor, Capital C. Taylor, Withdrawals 21 22 (f) 231 24 (2) 25 26 (3) 27 28 (4) 20 30 (5) 31 32 (6) 33 34 (7) 35 36 (8) 37 38 (9) 30 40 (10) 41. 42 (11) 43 44 Balance 45 40 47 48 Revenues Expenses