Randy's Restaurant Company (RRC) entered into the following transactions during a recent year. April 1 Purchased...

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Randy's Restaurant Company (RRC) entered into the following transactions during a recent year. April 1 Purchased equipment (a new walk-in cooler) for $8,800 by paying $2,900 cash and signing a $5,900 note due in six months. April 2 Enhanced the equipment (by replacing the air-conditioning system in the walk-in cooler) at a cost of $4,900, purchased on account. April 30 Wrote a check for the amount owed on account for the work completed on April 2. May 1A local carpentry company repaired the restaurant's front door, for which RRC wrote a check for the full $310 cost. June 1 Paid $13,680 cash for the rights to use the name and store concept created by a different restaurant that has been successful in the region. PB9-3 (Algo) Part 1-a PB9-3 (Algo) Part 1-a Required: 1-a. Complete the table below, indicating the account, amount and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) PB9-3 (Algo) Part 1-a Required: 1-a. Complete the table below, indicating the account, amount and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Date April 01 April 01 Assets Equipment April 02 April 30 May 01 June 01 June 01 Liabilities Stockholders' Equity || ||| 8,800 Notes Payable (long-term) 5,900 + + + + + + + Randy's Restaurant Company (RRC) entered into the following transactions during a recent year. April 1 Purchased equipment (a new walk-in cooler) for $8,800 by paying $2,900 cash and signing a $5,900 note due in six months. April 2 Enhanced the equipment (by replacing the air-conditioning system in the walk-in cooler) at a cost of $4,900, purchased on account. April 30 Wrote a check for the amount owed on account for the work completed on April 2. May 1A local carpentry company repaired the restaurant's front door, for which RRC wrote a check for the full $310 cost. June 1 Paid $13,680 cash for the rights to use the name and store concept created by a different restaurant that has been successful in the region. PB9-3 (Algo) Part 1-a PB9-3 (Algo) Part 1-a Required: 1-a. Complete the table below, indicating the account, amount and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) PB9-3 (Algo) Part 1-a Required: 1-a. Complete the table below, indicating the account, amount and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Date April 01 April 01 Assets Equipment April 02 April 30 May 01 June 01 June 01 Liabilities Stockholders' Equity || ||| 8,800 Notes Payable (long-term) 5,900 + + + + + + +

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Randys Restaurant Company Transaction Analysis Date Transaction Account Amount Direction April 1 Pur... View the full answer