Chapters 2 & 3 ( Seved Help Seve Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 E2-4 (Algo) Determining Financial Statement Effects of Several Transactions LO2-3 4 The following events occurred for Johnson Company a. Received investment of cash by organizers and distributed to them 1070 shares of $1 par value common stock with a market price of $15 per share.. b. Purchased $7.000 of equipment, paying $1,000 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $14.000 cash from a bank. d. Loaned $1.200 to an employee who signed a note. e. Purchased $23.660 of land: paid $9,000 in cash and signed a note for the balance. Required: For each of the events (a) through (ex perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. Of no impact on accounting equation leave cells blank.) Event Answer is not complete. Liabilities Stockholders' Equity Return to e Required: For each of the events (a) through (e), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and-for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. (If no impact on accounting equation leave cells blank.) Event B Cash b C d e Assets 21,000 Liabilities Stockholders' Equity