The following transactions were completed by the company. a. The owner invested $17,400 cash in the company. b. The company purchased supplies for $1,100 cash. c. The owner invested $11,200 of equipment in the company. d. The company purchased $320 of additional supplies on credit. e. The company purchased land for $10,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)
The following transactions were completed by the company. a. The owner invested $17,400 cash in the company. b. The company purchased supplies for $1,100 cash. c. The owner invested $11,200 of equipment in the company. d. The company purchased $320 of additional supplies on credit. e. The company purchased land for $10,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following transactions were completed by the
company.
a. The owner invested $17,400 cash in the company.
b. The company purchased supplies for $1,100 cash.
c. The owner invested $11,200 of equipment in the
company.
d. The company purchased $320 of additional supplies on
credit.
e. The company purchased land for $10,200 cash.
Required:
Enter the impact of each transaction on individual items of
the accounting equation. (Enter decreases to account
balances with a minus sign.)
Assets
Transactions Number
Cash
Supplies
Equipment
Land
+
a.
+
b.
+
Balance after a and b
=
С.
+
Balance after c
+
d.
+
Balance after d
+
+
+
e.
+
+
Balance after e
+
+ +
Transcribed Image Text:'s on
is of
%3D
Liabilities
+
Equity
Accounts
Owner,
Owner,
Revenue
Expenses
%3D
Payable
Capital
Withdrawals
%3D
%D
%3D
%D
+
+
%3D
+
+
+
+
+
+
+
+
+
+
II
II
II
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