The following transactions were completed by a. The owner invested $17,600 cash in the company. b. The company purchased supplies for $1,150 cash. c. The owner invested $11,300 of equipment in the company in exchange for more common stock. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10,300 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Transactions Number a. b. Balance after a and b C. Balance after c d. Balance after d Cash + + 0 + 0+ + 0 + + + Assets Supplies + Equipment + Land + 0 + 0 + + 0 + + + 0 0 0 + + + + + + + 0 0 0 = = = = = = = = = Liabilities + Accounts Payable 0 + 10 + + + + 0 + + + Common Stock 0 0 1 - - - - - Equity Dividends + 10 0 + + + + + + Revenue 0 0 - - - - - Expenses 0 0

The following transactions were completed by a. The owner invested $17,600 cash in the company. b. The company purchased supplies for $1,150 cash. c. The owner invested $11,300 of equipment in the company in exchange for more common stock. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10,300 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Transactions Number a. b. Balance after a and b C. Balance after c d. Balance after d Cash + + 0 + 0+ + 0 + + + Assets Supplies + Equipment + Land + 0 + 0 + + 0 + + + 0 0 0 + + + + + + + 0 0 0 = = = = = = = = = Liabilities + Accounts Payable 0 + 10 + + + + 0 + + + Common Stock 0 0 1 - - - - - Equity Dividends + 10 0 + + + + + + Revenue 0 0 - - - - - Expenses 0 0

Name: The following transactions were completed by the company:a. The owner
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Description: The following transactions were completed by the company:a. The owner invested $17,600 cash in the company.b. The company purchased supplies for $1,150 cash.c. The owner invested $11,300 of equipment in the company in exchange for more common stock.

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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