Balances Cash ($)+ 12000 Assets Land ($)+ 80000 Building ($)+ 66000 Wilson Corporation Expanded Accounting Equation...

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Balances Cash ($)+ 12000 Assets Land ($)+ 80000 Building ($)+ 66000 Wilson Corporation Expanded Accounting Equation December 31 Office Equipment ($)= 41300 Liabilities Notes Payable ($) + 42000 + Accounts Payable +($) 7300 Wilson Corporation has the following transactions during December; 1. Sold additional stock to investors for $40,000. 2. Purchased building at a price of $50,000 and a land for $30,000. Made a cash payment of $10,000 of the total price and signed a note payable for the balance. 3. Purchased office equipment on account, $8,000. 4. Borrowed $12,000 from Turkish Bank and signed a note payment due in 2 years. 5. Paid $4,000 on the account payable for the office equipment. Owners' Equity Capital Stock($) 150000 Balances Cash ($)+ 12000 Assets Land ($)+ 80000 Building ($)+ 66000 Wilson Corporation Expanded Accounting Equation December 31 Office Equipment ($)= 41300 Liabilities Notes Payable ($) + 42000 + Accounts Payable +($) 7300 Wilson Corporation has the following transactions during December; 1. Sold additional stock to investors for $40,000. 2. Purchased building at a price of $50,000 and a land for $30,000. Made a cash payment of $10,000 of the total price and signed a note payable for the balance. 3. Purchased office equipment on account, $8,000. 4. Borrowed $12,000 from Turkish Bank and signed a note payment due in 2 years. 5. Paid $4,000 on the account payable for the office equipment. Owners' Equity Capital Stock($) 150000

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Accounting Equation It is the equibalance between asset... View the full answer