a. identify all accounts necessary to record the transaction properly.

b. Identify the total dollar impact of the transaction on total assets, total liabilities, total stockholders' equity, total revenues and total expenses.

1. ABC Company forms by issuing 200000 shares of $1 par value stock. The total contributed capital provided to the company from the investors

2. ABC Company signs a rental agreement with Jakes Rentals to rent equipment for the upcoming year. At the signing of the rental agreement, ABC Company paid a $15,000, which reflects the fist three month rental. Determine the accounts and transaction analysis from the perspective of ABC Company.

3. ABC negotiates with its bank a line of credit. The line of credit provides available funding of $120,000 and can only be used to purchase inventory. ABC Company has not taken any draws from this line of credit.