The following transactions occurred at several different businesses and are not related.

INSTRUCTIONS
Analyze each of the transactions. For each, decide what accounts are affected and set up T accounts. Record the effects of the transaction in the T accounts.

TRANSACTIONS
1. Serena Hamilton, an owner, made an additional investment of $42,000 in cash.
2. A firm purchased equipment for $20,000 in cash.
3. A firm sold some surplus office furniture for $3,400 in cash.
4. A firm purchased a computer for $3,700, to be paid in 60 days.
5. A firm purchased office equipment for $22,400 on credit. The amount is due in 60 days.
6. James Taylor, owner of Taylor Travel Agency, withdrew $12,000 of his original cash investment.
7. A firm bought a delivery truck for $38,500 on credit; payment is due in 90 days.
8. A firm issued a check for $7,200 to a supplier in partial payment of an open account balance.

Analyze: 

List the transactions that directly affected an owner’s equity account.