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A company had the following transactions. a. The company finished work for a client and immediately collected $17,200 cash. b. The company purchased supplies for $1,050 cash. c. The company purchased $310 of additional supplies on credit. d. The company purchased land for $10,100 cash. e. The company paid $11,100 cash for this month's rent. Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Cash + Supplies + Equipment + Land a. + + + = Liabilities + Accounts Π + Revenues Payable = + b. + + + Balance + + + C. + + + Balance + + + + + + + d. + + + + Balance + + + + e. + + + = + Balance Equity - - Expenses

A company had the following transactions. a. The company finished work for a client and immediately collected $17,200 cash. b. The company purchased supplies for $1,050 cash. c. The company purchased $310 of additional supplies on credit. d. The company purchased land for $10,100 cash. e. The company paid $11,100 cash for this month's rent. Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Cash + Supplies + Equipment + Land a. + + + = Liabilities + Accounts Π + Revenues Payable = + b. + + + Balance + + + C. + + + Balance + + + + + + + d. + + + + Balance + + + + e. + + + = + Balance Equity - - Expenses

FINANCIAL ACCOUNTING
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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A company had the following transactions. a. The company finished work for a client and immediately collected $17,200 cash. b. The company purchased supplies for $1,050 cash. c. The company purchased $310 of additional supplies on credit. d. The company purchased land for $10,100 cash. e. The company paid $11,100 cash for this month's rent. Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Cash + Supplies + Equipment + Land a. + + + = Liabilities + Accounts Π + Revenues Payable = + b. + + + Balance + + + C. + + + Balance + + + + + + + d. + + + + Balance + + + + e. + + + = + Balance Equity - - Expenses
Transcribed Image Text:A company had the following transactions. a. The company finished work for a client and immediately collected $17,200 cash. b. The company purchased supplies for $1,050 cash. c. The company purchased $310 of additional supplies on credit. d. The company purchased land for $10,100 cash. e. The company paid $11,100 cash for this month's rent. Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Cash + Supplies + Equipment + Land a. + + + = Liabilities + Accounts Π + Revenues Payable = + b. + + + Balance + + + C. + + + Balance + + + + + + + d. + + + + Balance + + + + e. + + + = + Balance Equity - - Expenses
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