On a separate piece of paper, complete the following chart to show the effect of each transaction on the accountingequation Transaction Assets Liabilities Shareholders' Equity 1 Owners contributed $30,000 cash 2 Purchased land for $20,000 cash 3 Borrowed $9,000 cash from bank 4 Provided services fo...

Assets Liabilities Stockholders Equity 1 30000 30000 2 20000 20000 3 9000 9000 4 8000 8000 5 ...

On a separate piece of paper, complete the following chart to show the effect of each transaction

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On a separate piece of paper, complete the following chart to show the effect of each transaction on the accountingequation.

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Financial Accounting in an Economic Context

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Authors: Jamie Pratt

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Question Posted: Aug 19, 2014 03:29 AM

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On a separate piece of paper, complete the following chart to show the effect of each transaction

Question:

Transaction Assets Liabilities + Shareholders' Equity 1. Owners contributed $30,000 cash 2. Purchased land for $20,000 cash. 3. Borrowed $9,000 cash from bank. 4. Provided services for $8,000 on account. 5. Paid $5,500 cash for expenses. 6. Paid $500 cash dividend to owners.

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Financial Accounting in an Economic Context

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