Analyze the events chronologically, one transaction at a time, beginning with the transaction on the...
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Accounting
Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th. For each transaction that follows the transaction on the 6th, calculate the balance in each account after analyzing its effect on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] For transactions with the same date, be sure to enter each transaction on a separate line in the order presented in the problem. Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts Payable; Com. = Common; Contr. = Contributed; Div. = Dividends; Exp. = Expense; Liab. = Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies.) Assets = Liab. + Equity Contr. Capital + Retained Earnings Cash + Med. + Land = A/P + Com. - Div. + Service - Sal. - Rent - Utilities Sup. Stock Rev. Exp. Exp. Exp. 7/6 + 2000 + 35000 = + - +
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