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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 each transaction with its probable description. Assets Liabilities Equity Accounts Accounts Common Cash Receivable + Supplies $ 3, 200 + + Land Payable $ 0 Stock Revenues $ 23,000 $ 0 $ 20,000 $ 46, 200 $ 0 1. -4, 200 4,200 2. 1,020 +1,020 3. 2,000 4. 2, 000 -1,020 +2,000 -1,020 5. 2,000 $ 19,780 $ 4, 220 $ 24, 200 $ 0 $ 46, 200 $ 2,000 Transaction Description 1. 2. 3. 4. 5.

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 Liabilities Equity Accounts Accounts Common Cash Receivable + Supplies $ 3, 200 + + Land Payable $ 0 Stock Revenues $ 23,000 $ 0 $ 20,000 $ 46, 200 $ 0 1. -4, 200 4,200 2. 1,020 +1,020 3. 2,000 4. 2, 000 -1,020 +2,000 -1,020 5. 2,000 $ 19,780 $ 4, 220 $ 24, 200 $ 0 $ 46, 200 $ 2,000 Transaction Description 1. 2. 3. 4. 5.

FINANCIAL ACCOUNTING
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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Exercise 1-13 (Algo) Identifylng effects of transactions on the accounting equation LO P1 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 Liabilities Equity +. Accounts Receivable Accounts Common Cash Supplies $ 3, 200 + Land Payable $ 0 $ 23,000 Stock Revenues $ 20,000 $ 46, 200 $ 0 1. -4, 200 4, 200 2. 1,020 +1,020 3. 2, 000 4. 2, 000 -1,020 +2,000 -1,020 5. 2,000 $ 19,780 $ 4, 220 $ 24, 200 $ 46, 200 $ 2, 000 Transaction Description 1 2. 3. 4 5.
Transcribed Image Text:Exercise 1-13 (Algo) Identifylng effects of transactions on the accounting equation LO P1 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 Liabilities Equity +. Accounts Receivable Accounts Common Cash Supplies $ 3, 200 + Land Payable $ 0 $ 23,000 Stock Revenues $ 20,000 $ 46, 200 $ 0 1. -4, 200 4, 200 2. 1,020 +1,020 3. 2, 000 4. 2, 000 -1,020 +2,000 -1,020 5. 2,000 $ 19,780 $ 4, 220 $ 24, 200 $ 46, 200 $ 2, 000 Transaction Description 1 2. 3. 4 5.
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