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Costco Wholesale Corporation is an American multinational corporation which operates a chain of membership-only big-box retail stores. Analyze each of the below transactions for
Costco Wholesale Corporation is an American multinational corporation which operates a chain of membership-only big-box retail stores. Analyze each of the below transactions for Costco and show the effect on the accounting equation. 1. Costco provide services to customers on account for $43,000. 2. Costco purchase equipment by signing a note with the bank for $35,000. 3. Costco repay $28,000 of the note in (2) above. 4. Costco pay utilities of $4,300 for the current month. Note: Decreases to account classifications should be entered as a negative. Stockholders' Transaction: Assets Liabilities (1) (2) (3) (4) Equity
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