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ABC, Inc. completed the transactions listed below in 2018. Enter the impact of each transaction on the accounting equation. Example: ABC Inc. paid off a
ABC, Inc. completed the transactions listed below in 2018. Enter the impact of each transaction on the accounting equation. Example: ABC Inc. paid off a $10,000 note payable. a. The company paid $1,500 cash for rent of office space for the month. b. The company purchased $10,000 of additional equipment on credit. c. The company completed work for a client and sent a bill for $8,000 payable within 30 days. d. The company paid $1,000 cash in dividends to the owner (sole shareholder). e. Employees worked the final week of the month but were not paid. Their wages totaled $2,000 Transaction - Liabilities + Equity Asset (10,000) Example (10,000) + + + + + +
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