(((Let me know if notes payable is long term or short term)))

McGraw-Hill EducatIon campus HW 0203A: THE ACCOUNTING EQUATION HW 0203A: THE ACCOUNTING EQUATION Saved Help Save & Exit Submit Check my work 2 Madison Shoes manufactures athletic shoes and sports apparel. The following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented "in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions," exclude the 000,000. a. Purchased $230 in equipment; paid by signing a $5 long-term note and fulfilling the rest with cash. b. Issued $26 in additional common stock for cash contributions made by stockholders. c. Several Madison Shoes investors sold their own stock to other investors on the stock exchange for $180 per share of stock 25 points eBook Hint Required: Print 1. For each of these events, perform transaction analysis and indicate the account, amount (in millions), and direction of the effect on the accounting equation. Check that the accounting equation remains in balance after each transaction. (Enter any decreases to account balances with a minus sign. Enter your answers in millions (1.., 10,000,000 should be entered as 10).) References Liabilities Assets Event bi C Totals A THE ACCOUNTING EQUATION Saved Help Save & Exit Check my ns," and the dollar amount in (c) is per share. When reporting ng-term note and fulfilling the rest with cash. ibutions made by stockholders. to other investors on the stock exchange for $180 per share of s and indicate the account, amount (in millions), and direction of accounting equation remains in balance after each transaction. us sign. Enter your answers in millions (i.., 10,000,000 should Stockholders' Equity Liabilities