13 Group A E2-14A. (Learning Objective 1: Analyzing transactions) Assume M. Crew opened a store in Hong Kong, starting with cash and ordinary shares of $81,000. Melissa Lim, the store manager, then signed a note payable to purchase land for $75,000 and a building for $101,000. Lim also paid $60,000 for equipment and $7,000 for supplies to use in the business. Suppose the home office of M. Crew requires a weekly report from store managers. Write Lim's memo to the home office to report on her purchases. Include the store's Balance Sheet as the final part of your memo. Prepare a T-account to compute the balance for Cash. E2-15A. (Learning Objective 1, 3: Analyzing transactions) The following selected events were experienced by either Solution Seekers, Inc., a corporation, or Paul Flynn, the major shareholder. State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific asset affected. a. Received $9,100 cash from customers on account. b. Flynn used personal funds to purchase a theater system for his home. c. Sold land and received cash of $55,000 (the land was carried on the company's books at $55,000). d. Borrowed $75,000. e. Made cash purchase of land for a building site, $85,000. f. Received $20,000 cash and issued shares to a shareholder. g. Paid $65,000 cash on accounts payable. h. Purchased equipment and signed a $103,500 promissory note in payment. i. Purchased merchandise inventory on account for $10,000. j. The business paid Flynn a cash dividend of $4,500. E2-16A. (Learning Objective 1, 2: Analyzing transactions; using the accounting equation) Harry Samson opened a medical practice specializing in surgery. During the first month of operation (March), the business, titled Harry Samson, Professional Corporation (P.C.), experienced the following events