. Analyze business transactions using the accounting equation. Enter each transaction into the accounting equation and identify...

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. Analyze business transactions using the accounting equation. Enter each transaction into the accounting equation and identify its increase or decrease to assets, liabilities, shareholder's equity, revenues, or expenses of Green Trees \& Lawn Corp. (LO 4)

a. Green Trees \& Lawn earned and collected the cash for \(\$ 15,000\) in service revenues.

b. The business paid \(\$ 2,000\) cash for supplies.

c. Green Trees \& Lawn paid \(\$ 1,500\) of a \(\$ 4,000\) note payable to creditors.

d. The company paid \(\$ 1,100\) for rent expense.

e. The company's owner provided \(\$ 7,500\) in additional financing in exchange for common stock.

f. The business paid \(\$ 2,100\) in dividends.

g. Green Trees \& Lawn loaned \(\$ 2,225\) cash to another company.

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Financial Accounting

ISBN: 9780131492011

1st Edition

Authors: Jane L. Reimers

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