12A newly formed company provides the following list of transactions.3456789171819Transaction1202123456Transaction12B101112 Required:13 1. Determine the impact of each transaction on the accounting equation.14Note: Not every cell will require a formula or cell reference. If neither is needed, then leave the cell blank.15 (Use cells A2 to C10 from the given information above to complete this question.)1634DescriptionStarted the company by issuing common stockBorrow cash by signing a noteProvided services to customers on accountPurchased supplies on accountPaid employees' salaries for the current monthPaid dividends to stockholdersAssets$45,000✔$9,000$12,000Amount$3,000✔The oooLA$45,000$9,000$12,000$3,000$6,000$4,000=DLiabilities$9,000✔$3,000✔EF+ Stockholders' Equity$45,000$12,000Tê Goo! ▲G 17181920212223242526Transaction30313223456Does the accounting equation balance?AssetsYes$45,000$9,000✔$12,000$3,000($6,000)($4,000)$44,0002. Use a conditional statement to evaluate whether the accounting equation balances.27(Use cells A2 to C10 from the given information above to complete this question. Construct a conditional IFstatement to return the word "Yes" if the accounting equation is in balance or "No" if it is not. In your formula, use28 cell B24 for total assets, cell D24 for total liabilities, and cell F24 for total stockholders' equity.)29==Liabilities$9,000✔$3,000$3,000 X++Stockholders' Equity$45,000$12,000($6,000)($4,000)$47,000 X

Name: 12A newly formed company provides the following list of transactions.
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Description: 12A newly formed company provides the following list of transactions.3456789171819Transaction1202123456Transaction12B101112 Required:13 1. Determine the impact of each transaction on the accounting equation.14Note: Not every cell will require a form

Accounting equations state that every transaction has two aspects, that is, debit and credit. It…

Business

Accounting

A newly formed company provides the following list of transactions. Transaction 1 2 3 4 5 6 Description Started the company by issuing common stock Borrow cash by signing a note Provided services to customers on account Purchased supplies on account Paid employees' salaries for the current month Paid dividends to stockholders Amount Required: 1. Determine the impact of each transaction on the accounting equation. Note: Not every cell will require a formula or cell reference. If neither is needed, then leave the cell blank. (Use cells A2 to C10 from the given information above to complete this question.) $45,000 $9,000 $12,000 $3,000 $6,000 $4,000

A newly formed company provides the following list of transactions. Transaction 1 2 3 4 5 6 Description Started the company by issuing common stock Borrow cash by signing a note Provided services to customers on account Purchased supplies on account Paid employees' salaries for the current month Paid dividends to stockholders Amount Required: 1. Determine the impact of each transaction on the accounting equation. Note: Not every cell will require a formula or cell reference. If neither is needed, then leave the cell blank. (Use cells A2 to C10 from the given information above to complete this question.) $45,000 $9,000 $12,000 $3,000 $6,000 $4,000

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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