I am missing something in four problems. See # 1 1800 The following event occurs...
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Accounting
I am missing something in four problems. See # 1 1800
The following event occurs for Johnson Company
Received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share.
Purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable manufufactures.
Borrowed $10, 000 cash from bank.
Loaned $800 to an employee who signed a note.
Purchased $13,000 of land: paid $4,000 in cash and signed a mortgage note for the balanc
Required
For each of the events (a) through(e). perform transaction analysis and indicate the account, amount and indicate the account and direction of the (+ for increase and -for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction.
Note the answer on website is also missing something.
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