Identifying effects of transactions using accounting equation-Assets and Liabilities P1 Create a table like the...
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Identifying effects of transactions using accounting equation-Assets and Liabilities P1 Create a table like the one in Exhibit 1.9. using the following headings for columns: Cash: Supplies; Equipment; Land; Accounts Payable; Notes Payable; A. Fahad, Capital, A. Fahad, withdrawals, Revesses; and Expenses. Then use additions and subtractions to show the effects of each transaction on individaal items of the accounting equation. a. The owner (Amir Fahad) invested $15,000 cash in the company. b. The company parchased supplies for $500 cash c. The company purchased S10,000 in equipment on credit (record liability as Note Payable) d. The company purchased $200 of additional supplies on credit e. The company purchased lahd for $9,000 cash
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