Record the following transactions in the Table below based on how they impact the Accounting Equation. Treat these as stand alone transactions. Do not attempt to add the various transactions together in the table provided.

1.The company purchased equipment worth $10,000 for cash.

2.The company purchased equipment worth $5,000 on credit.

3.The owner invested $1,000 in cash.

4.The company paid employees $2,000 for wages. (No accrual for wages payable was made)

5.The company billed a customer for $1,000, payment due in 30 days.

6.The company sold $500 worth of merchandise for cash.

7.The company paid an electric bill for this month of $750.

8.The company paid $1,500 for this month's rent.

9.The company received $1,000 from a customer for sales billed last month.

10.The company purchased $500 worth of inventory on credit.

11.The company received $2,000 in cash for a sale made today.

12.The company paid $300 for merchandise received and invoiced last month.

13.The company paid salaries of $2,500. (No accrual for wages payable was made) 14.The company received $3,000 for sales made and invoiced last month.

15.The owner increased his investment by $2,000 in cash.

16.The company purchased a $10,000 vehicle by taking out a loan.

17.The company made a $1,500 loan payment.

18.The company sold $750 worth of merchandise for cash.

19.The company paid $500 for merchandise just delivered on a COD basis.

20.The company received $500 from a customer against an old bill.

Accounting Equation

Assets =Liabilities +Owners' Equity

	Assets =	Liabilities +	Owners' Equity
1-20

Answer rating: 100% (QA)

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