The following table shows the effects of transactions through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match eachtransaction with its probable description.1.2.3.4.5.1Cash$ 28,000 +4,7003.4.5.Transaction1.001,0702,250$ 24,480AAssetsAccountsReceivable$ 0002,25002,250$ 0715Supplies$ 3,70001,07000$ 4,770Description+++Land$ 22,5004,7000000$ 27,200Liabilities++Accounts Payable +$001,07001,0700$ 0EquityMulan,Capital$ 54,200 +100000$ 54,200Revenues002,25000$ 2,250

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Description: The following table shows the effects of transactions through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match eachtransaction with its probable description.1.2.3.4.5.1Cash$ 28,000 +4,7003.4.5.Transaction1.001,0702,250$ 24,480AAss

The accounting equation states that assets are equal to the sum of the liabilities and equity. The…

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The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match eac transaction with its probable description. 1. 2. 3. 4. - 5. + Cash $ 28,000 + 4,700 0 0 1,070 2,250 $ 24,480 + Transaction 1 Assets Accounts Receivable + Supplies $ 3,700 + 0 1,070 0 0 0 $ 4,770 $0 0 0 2,250 0 2,250 $0 + Description Land + $ 22,500 + 4,700 0 0 0 0 $ 27,200 Liabilities Accounts Payable + $0 + 0 + + 1,070 0 1,070 0 $0 + Mulan, Capital Equity + $ 54,200 + 0 0 0 0 0 $ 54,200 Revenues $0 0 0 2,250 0 0 + $ 2,250

The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match eac transaction with its probable description. 1. 2. 3. 4. - 5. + Cash $ 28,000 + 4,700 0 0 1,070 2,250 $ 24,480 + Transaction 1 Assets Accounts Receivable + Supplies $ 3,700 + 0 1,070 0 0 0 $ 4,770 $0 0 0 2,250 0 2,250 $0 + Description Land + $ 22,500 + 4,700 0 0 0 0 $ 27,200 Liabilities Accounts Payable + $0 + 0 + + 1,070 0 1,070 0 $0 + Mulan, Capital Equity + $ 54,200 + 0 0 0 0 0 $ 54,200 Revenues $0 0 0 2,250 0 0 + $ 2,250

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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