The following table shows the effects of five transactions (1 through 5) on the assets, liabilities, and equity of Mulan’s Boutique.

Identify the explanation from a through j below that best describes each transaction 1 through 5 above and enter it in the blank space in front of each numbered transaction.

a. The company purchased $1,000 of office supplies on credit.

b. The company collected $1,900 cash from an account receivable.

c. The company sold land for $4,000 cash.

d. The company paid $1,000 cash in dividends to shareholders.

e. The company purchased office supplies for $1,000 cash.

f. The company purchased land for $4,000 cash.
g. The company billed a client $1,900 for services provided.
h. The company paid $1,000 cash toward an account payable.
i. The owner invested $1,900 cash in the business in exchange for its common stock.
j. The company sold office supplies for $1,900 on credit.

Transcribed Image Text:

Assets Cash + Accounts + Office Receivable $21,000 + $ 0 + Supplies Payable $3,000 Liabilities + Land = Accounts + + $19,000 = $ 0 + $43,000 + $ 0 Equity Common + Revenues Stock 1.- 4,000 + 4,000 2. 1,000 +1,000 3. + 1,900 + 1,900 4.- 1,000 - 1,000 5. +1,900 - 1,900 $ 17,900 + $ 0 + $4,000 + $23,000 = $ 0 + $43,000 + $1,900