Zen began a new consulting firm on January 5. Following are total account balances after each of the company's first five transactions (using the accounting equation form). Analyze the accounting equation for each transaction and match the given transaction with its most likely description. Transaction 1. 2. 3. 4. 5. Transaction 1. 2. 3. 4. Cash $ 1,000 + 2,000 + 2,000 + 0 + + 6,000 Accounts Receivable $0 0 0 0 0 Assets + Supplies + + + + + + $0 0 0 + + + 3,000 + 3,000 + Equipment Description $0 0 - 8,000 8,000 8,000 - M Liabilition Accounta Payable $0 0 8,000 9,000 9,000 zen, + Capital + + + + + Equity $ 1,000 + 1,000 1,000 1,000 1,000 + + + Revenues $0 1,000 1,000 1,000 7,000

Zen began a new consulting firm on January 5. Following are total account balances after each of the company's first five transactions (using the accounting equation form). Analyze the accounting equation for each transaction and match the given transaction with its most likely description. Transaction 1. 2. 3. 4. 5. Transaction 1. 2. 3. 4. Cash $ 1,000 + 2,000 + 2,000 + 0 + + 6,000 Accounts Receivable $0 0 0 0 0 Assets + Supplies + + + + + + $0 0 0 + + + 3,000 + 3,000 + Equipment Description $0 0 - 8,000 8,000 8,000 - M Liabilition Accounta Payable $0 0 8,000 9,000 9,000 zen, + Capital + + + + + Equity $ 1,000 + 1,000 1,000 1,000 1,000 + + + Revenues $0 1,000 1,000 1,000 7,000

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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