fects of transactions 15, and equity of Mulan'si with its probableLiabilitiesEquityMulan,Supplies$ 4,000= Accounts Payable +$ 0LandCapital$ 61,500++Revenues$ 28,5004,900+++$ 0+1,1901,190++2,8501,190$ 5,190$ 33,400$ 0$ 61,500$ 2,850++iption The following table shows the effects of transactions 1through 5 on the assets, liabilities, and equity of Mulan'sBoutique. Match each transaction with its probabledescription.AssetsLiAccounts= AccouSupplies$ 4,000Cash+Receivable++Land$ 28,500 =4,900$ 29,000 +$ 0++1.4,900+2.1,1903.2,8501,1902,850$ 25,7604.2,850$ 05.$ 5,190$ 33,400 =+TransactionDescription1.2.3.4.5.+

Answer : Transaction Description 1. Bought land for cash $4,900. 2. Purchased office supplies…

Answered: The following table shows the effects…

The following table shows the effects of transac through 5 on the assets, liabilities, and equity o Boutique. Match each transaction with its proba description.

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

fects of transactions 1
5, and equity of Mulan's
i with its probable
Liabilities
Equity
Mulan,
Supplies
$ 4,000
= Accounts Payable +
$ 0
Land
Capital
$ 61,500
+
+
Revenues
$ 28,500
4,900
+
+
+
$ 0
+
1,190
1,190
+
+
2,850
1,190
$ 5,190
$ 33,400
$ 0
$ 61,500
$ 2,850
+
+
iption

The following table shows the effects of transactions 1
through 5 on the assets, liabilities, and equity of Mulan's
Boutique. Match each transaction with its probable
description.
Assets
Li
Accounts
= Accou
Supplies
$ 4,000
Cash
+
Receivable
+
+
Land
$ 28,500 =
4,900
$ 29,000 +
$ 0
+
+
1.
4,900
+
2.
1,190
3.
2,850
1,190
2,850
$ 25,760
4.
2,850
$ 0
5.
$ 5,190
$ 33,400 =
+
Transaction
Description
1.
2.
3.
4.
5.
+

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