Question: Homework (due Mon] QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company a.
Homework (due Mon] QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company a. The owner (Alex Carr) invested $16,800 cash in the company b. The company purchased supplies for $950 cash c. The owner (Alex Carr) invested $10.900 of equipment in the company d. The company purchased $290 of additional supplies on credit e. The company purchased land for $9.900 cash Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases minus sign.) count balances with a Liabilities + Cash - Supplies - Equipment Land Accounts Payable A. Can. Capital $ 16 8001 A. Carr Withdrawals - Revenue - Expenses 5 16.800 + (950) 15 850 Bal + 950 + 16 800 10.900 $10900 10.900 27 700 15,850 + + 15 850 + 290 12401 15.850
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
