During the year, the Decker Company experienced the following accounting transactions: I. Purchased equipment with cash in the amount of$ I 00,000 2. Purchased supplies on account in the amount of$ I 0,000 3. Collected $21,000 cash from customers 4. Paid a cash dividend of $ 15,000 Using the accounting equation, record each of the transactions using the Transaction Analysis Template: The image provides a financial template diagram integrating elements of a balance sheet and an income statement.**Balance Sheet:**- The green section is labeled "Balance Sheet."- It shows the basic accounting equation: - **Assets = Liabilities + Stockholders' Equity** - Stockholders' Equity is further broken down into: - **Contrib. Capital** (Contributed Capital) - **Retained Earnings****Income Statement:**- The purple section is labeled "Income Statement."- It presents the relationship: - **Revenues - Expenses = Net Income****Flow Connection:**- A red arrow connects "Retained Earnings" in the balance sheet to the "Net Income" of the income statement, indicating that net income affects retained earnings. **SE2-6. Recording Transactions with the Accounting Equation**During the year, the Decker Company experienced the following accounting transactions:1. Purchased equipment with cash in the amount of $100,000.2. Purchased supplies on account in the amount of $10,000.3. Collected $21,000 cash from customers.4. Paid a cash dividend of $15,000.Using the accounting equation, record each of the transactions using the Transaction Analysis Template:**[Diagram Explanation]**- **Balance Sheet Section**: - This part shows the accounting equation: **Assets = Liabilities + Stockholders’ Equity**. - Stockholders’ Equity is further divided into **Contributed Capital** and **Retained Earnings**.- **Income Statement Section**: - This part illustrates the equation: **Revenues - Expenses = Net Income**.The diagram visually connects the Balance Sheet and Income Statement by showing that Net Income, calculated in the Income Statement, affects Retained Earnings on the Balance Sheet.

According to accounting equation, the assets equal to sum of liabilities and equity.

uring the year, the Decker Company experienced the following accounting transactions: I. Purchased equipment with cash in the amount of$ I 00,000 2. Purchased supplies on account in the amount of$ I 0,000 3. Collected $21,000 cash from customers 4. Paid a cash dividend of $ 15,000 Using the accounting equation, record each of the transactions using the Transaction Analysis Template:

uring the year, the Decker Company experienced the following accounting transactions: I. Purchased equipment with cash in the amount of$ I 00,000 2. Purchased supplies on account in the amount of$ I 0,000 3. Collected $21,000 cash from customers 4. Paid a cash dividend of $ 15,000 Using the accounting equation, record each of the transactions using the Transaction Analysis Template:

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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