Haymarket Transportation Company, Ic., was organized in 2019 in New Hampshire. The following transactions occurred during...

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Haymarket Transportation Company, Ic., was organized in 2019 in New Hampshire. The following transactions occurred during the year: a. Received cash from investors in exchange for 10,000 shares of stock (par value of $1.00 per share) with a market value of $10 per share. b. Purchased land in New Hampshire for $17,000, signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $12,000 each; paid $4,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,900 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $4,250 to Portsmouth Landowners Corporation, which signed a six-month note. f. Stockholder Hillary Haymarket paid $27,700 cash for a vacant lot (land) in Maine for her personal use. Required: 1. Using the T-accounts, record the effects of transactions (a) through (f) by Haymarket Transportation Company. Cash Short-Term Notes Receivable Beg. Bal, Beg. Bal, End. Bal. End. Bal, Land Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Short-Term Notes Payable Long-Term Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $12,000 each; paid $4,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,900 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $4,250 to Portsmouth Landowners Corporation, which signed a six-month note. f. Stockholder Hillary Haymarket paid $27,700 cash for a vacant lot (land) in Maine for her personal use. Required: 1. Using the T-accounts, record the effects of transactions (a) through (f) by Haymarket Transportation Company. Cash Short-Term Notes Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Land Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Short-Term Notes Payable Long-Term Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal, Common Stock Additional Paid-in Capital Beg. Bal. Beg. Bal. End. Bal. End. Bal. Balance Sheet Classification Debit or Credit Balance Notes and Loans Payable (short-term) (2) Materials and Supplies (3) Common Stock (4) Intangible Assets (5) (6) Current Liability Current Asset Stockholders' Equity Noncurrent Asset Current Liability Noncurrent Liability Current Asset Stockholders' Equity Current Asset Noncurrent Asset (1) Income Taxes Payable Long-Term Debt (7) Property, Plant, and Equipment Retained Earnings (9) Notes and Accounts Receivable (short-term) (10) Investments (long-term) (11) Cash and Cash Equivalents (12) Accounts Payable and Accrued Liabilities (13) Crude Oil, Products and Merchandise (14) Additional Paid-in Capital (8) Current Asset ... Haymarket Transportation Company, Ic., was organized in 2019 in New Hampshire. The following transactions occurred during the year: a. Received cash from investors in exchange for 10,000 shares of stock (par value of $1.00 per share) with a market value of $10 per share. b. Purchased land in New Hampshire for $17,000, signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $12,000 each; paid $4,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,900 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $4,250 to Portsmouth Landowners Corporation, which signed a six-month note. f. Stockholder Hillary Haymarket paid $27,700 cash for a vacant lot (land) in Maine for her personal use. Required: 1. Using the T-accounts, record the effects of transactions (a) through (f) by Haymarket Transportation Company. Cash Short-Term Notes Receivable Beg. Bal, Beg. Bal, End. Bal. End. Bal, Land Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Short-Term Notes Payable Long-Term Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $12,000 each; paid $4,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,900 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $4,250 to Portsmouth Landowners Corporation, which signed a six-month note. f. Stockholder Hillary Haymarket paid $27,700 cash for a vacant lot (land) in Maine for her personal use. Required: 1. Using the T-accounts, record the effects of transactions (a) through (f) by Haymarket Transportation Company. Cash Short-Term Notes Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Land Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Short-Term Notes Payable Long-Term Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal, Common Stock Additional Paid-in Capital Beg. Bal. Beg. Bal. End. Bal. End. Bal. Balance Sheet Classification Debit or Credit Balance Notes and Loans Payable (short-term) (2) Materials and Supplies (3) Common Stock (4) Intangible Assets (5) (6) Current Liability Current Asset Stockholders' Equity Noncurrent Asset Current Liability Noncurrent Liability Current Asset Stockholders' Equity Current Asset Noncurrent Asset (1) Income Taxes Payable Long-Term Debt (7) Property, Plant, and Equipment Retained Earnings (9) Notes and Accounts Receivable (short-term) (10) Investments (long-term) (11) Cash and Cash Equivalents (12) Accounts Payable and Accrued Liabilities (13) Crude Oil, Products and Merchandise (14) Additional Paid-in Capital (8) Current Asset ...

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