9 blackboard.wichita.edu MBER 2, 2018- My Grades- Fundamentals of (MBA-802 5. Terms Of Trade Dism Use T-accounts to record the 14 transactions noted below for this new start-up company Record ll entries affecdting the income statement into "Equity' since there are no separate T-accounts set up for the individual ncome statement accounts. A T-account form for you to use is provided as a out and post these transactions. separate attachment for you to print Once all transactions have been posted, populate the for the accounts isted below. These are the answers you will post to this online assignment Ensure all answers are posted in the following format: words: 1,000,000 In other -Do NOT include a $ sign in your answer -Do include commas as noted in the example. . Do NOT include any decimal point or fractions. If you do not submit your answer in this format, even though you may have calculated the correct answer, the automated grading of this assignment may mark your response as being incorrect. Transactions: 1. New company start up; Owners invest $100,000 to buy shares from company 2. Company buys factory equipment for $20,000; Payment terms are net 30 days; Asset life 5 years and will be depreciated in the future using straight line depreciation. 3. Company buys inventory for $100,000; Payment terms-50% purchase: 50% net 30 days. 4. Company borrows $50,000 from bank due in 5 years. 5. Co mpany generates sales of $25,000 with a product cost of $40,000; Payment terms are net 30 days. 6. Company records warranty expense of $5,000 to establish a warranty reserve for future claims. Cick Save and Submit to save and submit. Click Save All Ansvers to save all ansuers Save All Answers ave and 9 blackboard.wichita.edu MBER 2, 2018- My Grades- Fundamentals of (MBA-802 5. Terms Of Trade Dism Use T-accounts to record the 14 transactions noted below for this new start-up company Record ll entries affecdting the income statement into "Equity' since there are no separate T-accounts set up for the individual ncome statement accounts. A T-account form for you to use is provided as a out and post these transactions. separate attachment for you to print Once all transactions have been posted, populate the for the accounts isted below. These are the answers you will post to this online assignment Ensure all answers are posted in the following format: words: 1,000,000 In other -Do NOT include a $ sign in your answer -Do include commas as noted in the example. . Do NOT include any decimal point or fractions. If you do not submit your answer in this format, even though you may have calculated the correct answer, the automated grading of this assignment may mark your response as being incorrect. Transactions: 1. New company start up; Owners invest $100,000 to buy shares from company 2. Company buys factory equipment for $20,000; Payment terms are net 30 days; Asset life 5 years and will be depreciated in the future using straight line depreciation. 3. Company buys inventory for $100,000; Payment terms-50% purchase: 50% net 30 days. 4. Company borrows $50,000 from bank due in 5 years. 5. Co mpany generates sales of $25,000 with a product cost of $40,000; Payment terms are net 30 days. 6. Company records warranty expense of $5,000 to establish a warranty reserve for future claims. Cick Save and Submit to save and submit. Click Save All Ansvers to save all ansuers Save All Answers ave and