Required information E2-10 Analyzing Accounting Equatlon Effects, Recording Journal Entries, and Summarizing Financial Statement Impact...
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Required information E2-10 Analyzing Accounting Equatlon Effects, Recording Journal Entries, and Summarizing Financial Statement Impact [LO 2-2, LO 2-3, LO 2-4) Rawico Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $1.700. Supplier intends to deliver later in the month. 6. Purchased equipment that cost $22000: pald $6,000 cash and signed a promissory note to pay $16,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $5.000 cash in the company's checking account. d. Hired a new finance manager on the last day of the month. e. Received an investment of $10,000 cash from the company's owners in exchange for Issuing common shares. f. Supplies [ordered in (al] were received, along with a bill for $1,700. E2-10 Part 1 Required: 1. Indicate the specific account, amount and direction of effects for each transaction on the radio station's accounting equation. If an event is not considered a transaction, leave the account, amount and direction of effects blank. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholders' Equity a. b. c e. f. Totals
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