Accounts Payable Factory Building Cash Contributed Capital Equipment $ 21,000 103,300 29,300 191,000 Supplies 129,000 During the month of July, the company had the following transactions: a Issued 3,780 shares for $378,000 cash. Land Notes Payable (long-term) Retained Earnings Transaction b. Borrowed $112,000 cash from a local bank, payable in two years. c. Bought a factory building for $204,000; paid $93,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $222,000. e. Purchased supplies for $33,300 on account. $ 211,000 4,200 264,500 8,100 Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Shareholders' Equity

Accounts Payable Factory Building Cash Contributed Capital Equipment $ 21,000 103,300 29,300 191,000 Supplies 129,000 During the month of July, the company had the following transactions: a Issued 3,780 shares for $378,000 cash. Land Notes Payable (long-term) Retained Earnings Transaction b. Borrowed $112,000 cash from a local bank, payable in two years. c. Bought a factory building for $204,000; paid $93,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $222,000. e. Purchased supplies for $33,300 on account. $ 211,000 4,200 264,500 8,100 Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Shareholders' Equity

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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