Brief Exercise 1-5 (Algo) Effect of events on the accounting equation LO 1-5 Agave Moss is a fashion consulting company operating out of the Pacific Northwest. The company experienced the following events during Year 1: 1. Acquired $510,000 cash from the issuance of common stock. 2. Purchased a building to serve as the corporate headquarters for $210,000 paid in cash. 3. Borrowed $82,500 from a local bank. 4. Provided consulting services to customers for $160,000 cash throughout the year. Required: Record the events in an accounting equation table like the one shown below. Record any amounts related to revenue in the Retained Earnings column. Note: Enter any decreases to account balances with a minus sign. For accounts unaffected by a transaction, leave cells blank. Event Number 1. 2. 3. 4. Cash Assets + + + + Agave Moss Accounting Equation Building H = = Liabilities Notes Payable + + + + Stockholders' Equity Common Stock + + + + Retained Earnings

Brief Exercise 1.5 (Algo) Effect of events on the accounting equation LO 1.5 Agave Moss is a fashion consulting company operating out of the Pacific Northwest. The company experienced the following events during Year 1 . 1. Acquired \\( \\$ 510,000 \\) cash from the issuance of common stock. 2. Purchased a building to serve as the corporate headquarters for \\( \\$ 210,000 \\) paid in cash 3. Borrowed \\( \\$ 82,500 \\) from a local bank. 4. Provided consulting services to customers for \\( \\$ 160,000 \\) cash throughout the yeac. Required: Record the events in an accounting equation table like the one shown below. Record any amounts related to revenue in the Retained Earnings column. Note: Enter any decreases to account balances with a minus sign. For accounts unaffected by a transaction, leave cells blank. Brief Exercise 1.5 (Algo) Effect of events on the accounting equation LO 1-5 Agave Moss is a fashion consulting company operating out of the Pacific Northwest. The company experienced the following events during Year 1: 1. Acquired \\( \\$ 510,000 \\) cash from the issuance of common stock. 2. Purchased a building to serve as the corporate headquarters for \\( \\$ 210,000 \\) paid in cash. 3. Borrowed \\( \\$ 82,500 \\) from a local bank. 4. Provided consulting services to customers for \\( \\$ 160,000 \\) cash throughout the year. Required: Record the events in an accounting equation table like the one shown below. Record any amounts related to revenue in the Retained Earnings column. Note: Enter any decreases to account balances with a minus sign. For accounts unaffected by a transaction, leave cells blank