Cash $ Question 1 Partially correct Mark 4.71 out of 10.00 Analyzing Transactions Using the Accounting Equation Dynamic Corporation completed the following transactions during the month of March. Indicate the effects on the accounting equation for each of the 10 transactions. Provide your answer in the format provided. Note: Use a negative sign with your answers to indicate a decrease. Note: Select "N/A" as your answer if a part of the accounting equation is not affected. 1. Issued 20,000 shares of its own common stock for $200,000 cash. Assets Cash $ 200,000 Introduction 7 Chapter 2 Homework Assets 300,000 * N/A $ Assets Liabilities 0 2. Borrowed $100,000 cash in return for a 9%, one-year note payable. Liabilities > Note payable = $ 300,000 * + Liabilities PFlag question + + Stockholders' Equity Common stock + 200,000 + $ Stockholders' Equity 3. Purchased equipment at a net cost of $100,000 cash. N/A $ 0 Chapter 2 Homework + Stockholders' Equity

Analyzing Transactions Using the Accounting Equation Dynamic Corporation completed the following transactions during the month of March. Indicate the effects on the accounting equation for each of the 10 transactions. Provide your answer in the format provided. - Note: Use a negative sign with your answers to indicate a decrease. - Note: Select, "N/A" as your answer if a part of the accounting equation is not affected. 1. Issued 20,000 shares of its own common stock for $200,000 cash. 2. Borrowed $100,000 cash in return for a 9%, one-year note payable. 3. Purchased equipment at a net cost of $100,000 cash. 3. Putchased tqupment at a net cost of 5109,000 ash Horcent of noods sola. 6. Paid $25,000 cash for operating expenses. 7. Paid for half of the merchandise previously purchased on account in transaction 4. 8. Collected 40% of the balance due on the sales in transaction 5. 9. Paid \$1,200 cash for an insurance premium for one year of coverage (debit prepaid insurance) 8. Collected 40% of the balance due on the sales in transaction 5 . 9. Paid $1,200 cash for an insurance premium for one year of coverage (debit prepaid insurance). 10. Paid $10,000 cash in legal fees for the month of March