Current Attempt in Progress Show the effects of the following inventory transactions on the Accounting...
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Accounting
Current Attempt in Progress Show the effects of the following inventory transactions on the Accounting equation: a. b. C d e Purchased inventory costing $16,200 on account. 2) Sold inventory costing $10,800 for 1) $27.000 on account Purchased a one-year insurance policy for $1,320. Paid the amount owing for inventory from transaction (a). Collected funds outstanding from our customer from transaction (b). Paid $2.920 for advertising on the city's website. Borrowed $81.000 from our bank. Issued common shares for $54,000, Declared and paid a dividend of $1,080. f B h (Enter amounts that decrease account balance using either a negative sign preceding the number e.s. -45 or parentheses e.8. (45). For entires in Retained Earnings select (R) for Revenues (E) for Expenses and (DD) for dividends declared.) Assets Cash Accounts Receivable Prepaid Insurance Inventory 16200 Assets Cash Accounts Receivable Prepaid Insurance Inventory 16200 b: 1) 27000 (27000) b: 2) 10000 (10000) (1320) 1320 d d) (16200) e) 27000 (27000) 2920 81000 ) 54000 0) 1080 Liabilities Shareholders' Equity e Taxes Payable Bank Loan Payable Common Shares Retained Earnings R/E/DD 200 : 200 A
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