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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:30:
Accounts Payable
Factory Building
Cash
Contributed Capital
Equipment
Transaction
$ 21,000
103,300
29,300
191,000
129,000
During the month of July, the company had the following transactions:
a Issued 3,780 shares for $378,000 cash.
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.
a
b
C
Required:
1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a
minus sign.)
d
Land
Notes Payable (long-term)
Retained Earnings
Supplies
$ 211,000
4,200
264,500
8,100
Assets
Liabilities
Shareholders' Equity
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