1. The owners invested $16,960 cash into thhe business in exchange for shares of common stock in Thomas Company

2. The company borrows $7,660 cash from the local bank

3. The company pays cash for a piece of equipment. The list price was $8,800, but after final negotiation, the final purchase price was $8,400

4. During the year, Thomas Company earned revenues totaling $297,000. The cash has been collected from the customers for all revenues earned this year

5. Thomas Company incurred expenses totaling $211,000 during that same year. All of the expenses incurred this year were paid in cash

6. At the end of each quarter, Thomas Company distributed cash to its stockholders. The sum of those quarterly distributions was $14,000

The Basics Homework Calculator Print tem Transactions Consider the following transactions for Thomas Company and the effect on the accounting equation. Place the cursor on each transaction for transaction details. Determine the new balance for each component of the accounting equation resulting from the transaction. You will not need to enter the amount of each transaction, only the balance after the transaction.) If an amount box does not requere an entry leave it blank Transaction Aves t abilities + Stockhollers' Equity canto the banessin change for shares of common stock in Thomas Company The owner wested $16. 1. west the business 2 Borrow cash 3. Purchase 1. R ed 5. Expenses curred The sun sides of the bon must remain Balancer every ansactions in other words, the balance one of the must match the balance on the side of the c ont a dos afect both ton One changed for the formed there w a s the amount of assets etho d s the ancienne t h women sement of the won is noted by the transcomberto cam the For the m