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AgBiz Company specializes in selling bulk, bagged, and liquid fertilizer. It also offers custom fertilizer application. The following reflects he transactions that occurred at the
AgBiz Company specializes in selling bulk, bagged, and liquid fertilizer. It also offers custom fertilizer application. The following reflects he transactions that occurred at the company during the month of May 2022. Match the following transactions to its effect on Assets, Liabilities or Owner's Equity/Net worth. This is similar to performing a ransaction analysis. On May 1, Purchased fertilizers for $20,000 from A. Decrease in Liabilities and Decrease in Asset Royalty Herbicides Company on account. B. Decrease in Owner's Equity and Decrease in Asset Paid $4,000 cash for rent of storage space for the next two Increase in Asset and Increase in Asset months. D. Increase in Asset and Decrease in Asset Received $17,000 cash from customers for contracts E. Decrease in Owner's Equity and Increase in Liability billed in April. F. Increase in Asset and Increase in Owner's Equity Performed fertilizer application services for Viking Farm for G. Increase in Asset and Increase in Liabilities Paid Tri-State Power Co. $11,000 cash for energy usage. The owner of AgBiz company invested an additional $29,000 in the business. Paid Royalty Herbicides Company for the fertilizers purchased on May 1, 2022. Incurred advertising expense for May of $1,200 on account. Purchases computer equipment for $7,000 cash. The Owner of AgBiz Corporation withdraws $1,300 in cash from the business for his personal use
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