U Search Edit & Cre PROBLEM 2.3B Recording the Effects of Transactions Delta Corporation was organized on December 1 of the current year and had the following account balances at December 31, listed in tabular form: Assets Owners' Equity + + + = Cash $12,000 Office Equipment $41,300 Land $80,000 + Building $66,000 Liabilities Notes Accounts Payable + Payable $42,000 $7,300 Capital Stock $150,000 Jalances Early in January, the following transactions were carried out by Delta Corporation: 1. Sold capital stock to owners for $40,000. 2. Purchased land and a small office building for a total price of $80,000, of which $30,000 was the value of the land and $50,000 was the value of the building. Paid $10,000 in cash and signed a note payable for the remaining $70,000.- 3. Bought several computer systems on credit for $8,000 (30-day open account). 4. Obtained a loan from 2nd Bank in the amount of $12,000. Signed a note payable. 5. Paid the $4.000 account payable due as of December 31. Instructions a. List the December 31 balances of assets, liabilities, and owners' equity in tabular form as shown above. b. Record the effects of each of the five transactions in the format illustrated in Chapter 2 of the text. Show the totals for all columns after each transaction. DARI FAD maling in the hannahaf. i m alium in the Donegan_s_Lawn_Care Service (Protected View] MATH B C D E F G 1 Donegan's Lawn Care Service began operations in July 2012. The company engaged in the following 2 transactions during its first month of operations: 3 July 18 Issued 500 shares of capital stock to Patrick Donegan for 1500. 4 July 22 Purchased office supplies on account for 100. 5 July 23 Purchased mowing equipment for 2000, paying 400 in cash, 6 and issuing a 60-day note payable for the remaining balance. 7 July 24 Paid 25 cash for gasoline. 8 July 25 Billed Lost Creek Cemetery 150 for mowing services. The entire amount is due July 30. 9 July 26 Billed Golf View Condominimus 200 for mowing services. The entire amount is due August 1. 11 July 30 Collected 150 from Lost Creek Cemetery for mowing services provided on July 25. 12 July 31 Paid 80 salary to employee Teddy Grimm for work performed in July. Required Record each of the above transactions in general journal form. Post each entry to the appropriate ledger accounts. Prepare a trial balance dated July 31, 2012. H. Question Empty Answer Answer eady