Current Attempt in Progress During 2017, Ivanhoe Company entered into the following transactions. Purchased equipment for $297,550 cash. Issued common stock to investors for $138,090 cash. Purchased inventory of $72,350 on account. 1. 2 3. Using the following tabular analysis show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Assets Inventory Cash Liabilities Accounts Payable + Equipment $ $ $ (2) (3) Save for Later Attempts: 0 of 1 used Submit Answer During 2017, Ivanhoe Company entered into the following transactions. 1. 2 3. Purchased equipment for $297,550 cash. Issued common stock to investors for $138,090 cash. Purchased inventory of $72,350 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Assets + Inventory Cash + Equipment Liabilities Accounts Payable $ (1) $ $ $ (2) (3) Save for Later Attempts: 0 of 1 used Submit Answer During 2017, Ivanhoe Company entered into the following transactions. 1. 2. 3. Purchased equipment for $297,550 cash. Issued common stock to investors for $138,090 cash. Purchased inventory of $72,350 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Equipment Liabilities Accounts Payable Stockholders' Equity Retained Earnings + Common Stock $ Save for Later Attempts: 0 of 1 used Submit