+1 QS 1-11 (Algo) Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company a. The owner invested $16,400 cash in the company b. The company purchased supplies for $850 cash. c. The owner invested $10,700 of equipment in the company in exchange for more common stock. d. The company purchased $270 of additional supplies on credit. e. The company purchased land for $9,700 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Transactions Number Balance after a and b |C Balance after c d Balance after d Balance after e Cash * . + + Assets Supplies Equipment * + . . + + . . + . Land # ... E W W Liabilities Accounts Payable + . + * + + * Common Stock Equity Dividends + + + • + + Revenue Expenses
+1 QS 1-11 (Algo) Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company a. The owner invested $16,400 cash in the company b. The company purchased supplies for $850 cash. c. The owner invested $10,700 of equipment in the company in exchange for more common stock. d. The company purchased $270 of additional supplies on credit. e. The company purchased land for $9,700 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Transactions Number Balance after a and b |C Balance after c d Balance after d Balance after e Cash * . + + Assets Supplies Equipment * + . . + + . . + . Land # ... E W W Liabilities Accounts Payable + . + * + + * Common Stock Equity Dividends + + + • + + Revenue Expenses
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QS 1-11 (Algo) Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1
The following transactions were completed by the company
a. The owner invested $16,400 cash in the company
b. The company purchased supplies for $850 cash.
c. The owner invested $10,700 of equipment in the company in exchange for more common stock.
d. The company purchased $270 of additional supplies on credit.
e. The company purchased land for $9,700 cash.
Required:
Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a
minus sign.)
Transactions Number
Balance after a and b
10
Balance after c
d
Balance after d
Balance after e
Cash
*
.
*
+
Assets
Supplies Equipment
*
.
+
.
+
+
+
*
.
+
.
Land
#
...
W
W
Liabilities
Accounts
Payable
+
.
+
+
+
+
*
Common
Stock
Equity
Dividends
+
+
.
*
•
+
*
+
Revenue
Expenses"
Transcribed Image Text:+1
QS 1-11 (Algo) Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1
The following transactions were completed by the company
a. The owner invested $16,400 cash in the company
b. The company purchased supplies for $850 cash.
c. The owner invested $10,700 of equipment in the company in exchange for more common stock.
d. The company purchased $270 of additional supplies on credit.
e. The company purchased land for $9,700 cash.
Required:
Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a
minus sign.)
Transactions Number
Balance after a and b
10
Balance after c
d
Balance after d
Balance after e
Cash
*
.
*
+
Assets
Supplies Equipment
*
.
+
.
+
+
+
*
.
+
.
Land
#
...
W
W
Liabilities
Accounts
Payable
+
.
+
+
+
+
*
Common
Stock
Equity
Dividends
+
+
.
*
•
+
*
+
Revenue
Expenses
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