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Award: 5 . 0 0 points Exercise 2 - 3 ( Static ) Analyze the impact of transactions on the accounting equation ( LO 2
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Exercise Static Analyze the impact of transactions on the accounting equation LO
Green Wave Company plans to own and operate a storage rental facility.
Required:
For the first month of operations, the company had the following transactions. For each transaction, describe the dual effect on the accounting equation. For example, in the first transaction, assets increase and stockholders' equity increases.
tableTransactionsDual Effect Issue shares of common stock in exchange for $ in cash., Purchase land for $ A note payable is signed for the full amount., Purchase storage container equipment for $ cash., Hire three employees for $ per month., Receive cash of $ in rental fees for the current month., Purchase office supplies for $ on account., Pay employees $ for the first month's salaries.,
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Difficulty: Easy
Exercise Static Analyze the impact of transactions on the accounting equation LO
Learning Objective:
Analyze the impact of external transactions on the accounting equation.
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