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.Cash$ 28,0004,700001,0702,250$ 24,480Transaction1.2₁3.4.+AssetsAccountsReceivable$ 0002,25002,250$0+Supplies +$ 3,700++01,070000$ 4,770DescriptionLand$ 22,5004,7000000$ 27,200LiabilitiesAccounts Payable +$00+1,07001,0700$0Mulan,CapitalEquityCHE$ 54,20000D0$ 54,200Revenues$0002,25000$ 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.Cash$ 28,0004,700001,0702,250$ 24,480Transaction1.2₁3.4.+Assets

From the effect of each transaction on balance sheet given, we can create the following journal…

Business

Accounting

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 $ 28,000 4,700 0 0 Transaction 1. 2. 3. 4. 5. + 1,070 2,250 $ 24,480 + Assets Accounts Receivable + + $0 0 0 2,250 0 2,250 $0 + + Supplies $ 3,700 0 1,070 0 0 0 $ 4,770 Description + 4,700 Land - Accounts Payable + $ 22,500 - $0 + 0 1,070 0 1,070 0 $0 0 0 0 0 Liabilities $ 27,200 + + Equity Mulan, Capital $ 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 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 $ 28,000 4,700 0 0 Transaction 1. 2. 3. 4. 5. + 1,070 2,250 $ 24,480 + Assets Accounts Receivable + + $0 0 0 2,250 0 2,250 $0 + + Supplies $ 3,700 0 1,070 0 0 0 $ 4,770 Description + 4,700 Land - Accounts Payable + $ 22,500 - $0 + 0 1,070 0 1,070 0 $0 0 0 0 0 Liabilities $ 27,200 + + Equity Mulan, Capital $ 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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