please do exmaple and transactions as that is part of question 1. thanks 1. For each transaction below, indicate how the transaction affects the accounting equation(Assets = Liabilities + Owners' Equity) by listing which accounts were affected (e.g., Cash,Accounts Payable, etc.), whether the account increased or decreased, and whether that accountwas tied to Assets, Liabilities, or Owners' Equity. Make sure that the accounting equation stillbalances.Examples:Example 1: Purchased a building for $1,000,000 in cashExample 2: Issued shares of common stock to investors in exchange for $100,000 cashEffect on Accounting Equation: Cash (Assets) ↑ $100,000, Common Stock (Equity) ↑ $100,000Liabilities +Owners' EquityExample 1Example 2Transactions:aсef8.0gAssets=Building ↑ $1,000,000Cash $1,000,000Cash ↑ $100,000Assets=a. Repaid loan of $20,000b. Purchased $4,000 of inventory on accountc. Received $15,000 in cash from clients for consulting services performedd. Purchased equipment by taking out a loan with the bank for $500,000e. Sold inventory that cost $3,000 to customers for $5,000 on account.f. Paid dividend of $50,000 to investorsg. Paid rent of $4,000 for the current monthCommon Stock ↑ $100,000Liabilities +Owners' Equity

Name: please do exmaple and transactions as that is part of question 1. than
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Description: please do exmaple and transactions as that is part of question 1. thanks 1. For each transaction below, indicate how the transaction affects the accounting equation(Assets = Liabilities + Owners' Equity) by listing which accounts were affected (e.g.,

An accounting equation is one of the important formulas in accounting. As per the accounting…

Business

Accounting

1. For each transaction below, indicate how the transaction affects the accounting equation (Assets = Liabilities + Owners' Equity) by listing which accounts were affected (e.g., Cash, Accounts Payable, etc.), whether the account increased or decreased, and whether that account was tied to Assets, Liabilities, or Owners' Equity. Make sure that the accounting equation still

1. For each transaction below, indicate how the transaction affects the accounting equation (Assets = Liabilities + Owners' Equity) by listing which accounts were affected (e.g., Cash, Accounts Payable, etc.), whether the account increased or decreased, and whether that account was tied to Assets, Liabilities, or Owners' Equity. Make sure that the accounting equation still

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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