Record the following transactions in the basic accounting equation: 1. Gracie Ryan invests $17,000 cash to begin a real estate company. 2. The real estate company buys $600 of computer equipment from Walmart for cash. 3. The real estate company buys $800 of additional computer equipment on account from Best Buy Hint: use Assets = Liabilities + Owners’ Equity

Record the following transactions in the basic accounting equation: 1. Gracie Ryan invests $17,000 cash to begin a real estate company. 2. The real estate company buys $600 of computer equipment from Walmart for cash. 3. The real estate company buys $800 of additional computer equipment on account from Best Buy Hint: use Assets = Liabilities + Owners’ Equity

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 2E: Determine the following amounts: a. The amount of the liabilities of a business that has 60,800 in...

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