The following events occurred for Johnson Company: a. Received investment of $39,000 cash by organizers and distributed 1,090 shares of $1 par value common stock to them. b. Purchased $8,400 of equipment, paying $1,600 in cash and signing a note for the rest. c. Borrowed $12,000 cash from a bank. d. Loaned $1,400 to an employee who signed a note. e. Purchased $23,569 of land; paid $10,000 in cash and signed a mortgage note for the balance. Required: For each of the events (a) through (e), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. (If no impact on accounting equation leave cells blank.) Transaction a. b. C. d. e. Assets Liabilities Stockholders' Equity

The following events occurred for Johnson Company: a. Received investment of $39,000 cash by organizers and distributed 1,090 shares of $1 par value common stock to them. b. Purchased $8,400 of equipment, paying $1,600 in cash and signing a note for the rest. c. Borrowed $12,000 cash from a bank. d. Loaned $1,400 to an employee who signed a note. e. Purchased $23,569 of land; paid $10,000 in cash and signed a mortgage note for the balance. Required: For each of the events (a) through (e), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. (If no impact on accounting equation leave cells blank.) Transaction a. b. C. d. e. Assets Liabilities Stockholders' Equity

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Description: please dont provide answer in image format thank you The following events occurred for Johnson Company:a. Received investment of $39,000 cash by organizers and distributed 1,090 shares of $1par value common stock to them.b.Purchased $8,400 of equipme

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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