Check my work mode: This shows what is correct or incorrect for the work youhave completed so far. It does not indicate completion. 2 The followingtransactions were completed by the company. a. The owner invested $17, 600cash in the company in exchange for its common stock. 12 b. The companypurchased supplies for $1,150 cash. c. The owner invested $11, 300 ofequipment in the company in exchange for more common stock. d. Thecompany purchased $330 of additional supplies on credit. e. The companypurchased land for $10, 300 cash. Required: Enter the impact of eachtransaction on individual items of the accounting equation. Note: Enterdecreases to account balances with a minus sign. The following transactions were completed by the company.a The owner invested $17600 cash in the company in exchange for its common stock.b. The company purchased supplies for $1,150 chc. The owner invested $11,300 of equipment in the company in exchange for more common stockd. The company purchased $330 of additional supplies on credit.The company purchased land for $10,300 cashRequired:Enter the impact of each transaction on Individual items of the accounting equation.Note: Enter decreases to account balances with a minus sign.TransactionsBalason after and bBalance afterBalance afterBalance arCash$ 17,600+1,10018,75015,450 Ⓒ+35,20015,490$1,650+-10300Ⓒ.51,650PaselsSupplies ++$ 1.100+1,1501,150+++330 +1,400 ++1,480 +Equipment11,300.11.300.11.30011.300+++++Answer is complete but not entirely correct.LibilitiesAccountsPayablLand$D0D|-.-10,30010,300 .$++a +++0330Ⓒ+330++CommonStock$17.60017,80011,300-28,90021,90028,900DividendsD0D0Equity++++++D00ExpensesDD0

Horizontal analysis is a statement that shows the effect of each transaction on the balance sheet…

Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 The following transactions were completed by the company. a. The owner invested $17, 600 cash in the company in exchange for its common stock. 12 b. The company purchased supplies for $1,150 cash. c. The owner invested $11, 300 of equipment in the company in exchange for more common stock. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10, 300 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign.

Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 The following transactions were completed by the company. a. The owner invested $17, 600 cash in the company in exchange for its common stock. 12 b. The company purchased supplies for $1,150 cash. c. The owner invested $11, 300 of equipment in the company in exchange for more common stock. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10, 300 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign.

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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