The following table shows the effects of transactions through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. 1. 2. 3. 4. 5. Cash $ 25,000 + -4,500 -1,150 +2,650 $ 22,000 Transaction 1. 2. 3. 4. 5. Accounts + Receivable + Supplies $0 - Assets + 2,650 2,650 $0 + $3,600 + + + 1,150 $4,750 Description + Land $ 26,500 4,500 $ 31,000 - Liabilities + Accounts Payable + $0 + +1,150 -1,150 $0 The company billed a client $1,150 for services provided. The company billed a client $2,650 for services provided. The company collected $2,650 cash from an account receivable. The company paid $1,150 cash toward an account payable. + Equity Common Stock + Revenues $ 55,100 + $0 $ 55,100 + + 2,650 $ 2,650

The following table shows the effects of transactions through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. 1. 2. 3. 4. 5. Cash $ 25,000 + -4,500 -1,150 +2,650 $ 22,000 Transaction 1. 2. 3. 4. 5. Accounts + Receivable + Supplies $0 - Assets + 2,650 2,650 $0 + $3,600 + + + 1,150 $4,750 Description + Land $ 26,500 4,500 $ 31,000 - Liabilities + Accounts Payable + $0 + +1,150 -1,150 $0 The company billed a client $1,150 for services provided. The company billed a client $2,650 for services provided. The company collected $2,650 cash from an account receivable. The company paid $1,150 cash toward an account payable. + Equity Common Stock + Revenues $ 55,100 + $0 $ 55,100 + + 2,650 $ 2,650

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Description: 5The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match eachtransaction with its probable description.1.2.3.4.5.Cash+$ 25,000 +-4,500-1,150+2,650$ 22,000Transaction1.2.3.4.

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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