QS 1-11 (Algo) Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The...
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QS 1-11 (Algo) Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company: a. The owner invested $19.000 cash in the company. b. The company purchased supplies for $1,500 cash. c. The owner invested $12,000 of equipment in the company in exchange for more common stock. d. The company purchased $400 of additional supplies on credit. e. The company purchased land for $11,000 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign
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