E$2-4($Algo$)$ Determining Financial Statement Effects of Several Transactions LO$2-3$

The following events occurred for Johnson Company:

Received investment of cash by organizers and distributed to them $1,030$ shares of $$1$ par value common stock with a market price of $$15$ per share.

Leased $$8,700$ of equipment, paying $$1,900$ in cash and signing a long$-$term right$-$of$-$use lease for the rest owed.

Borrowed $$13,000$ cash from a bank.

Loaned $$900$ to an employee who signed a note due in six months.

Purchased $$15,381$ of land; paid $$7,000$ in cash and signed a note for the balance.

Required:

For each of the events $($a$)$ through $($e$),$ perform transaction analysis and indicate the account and amount. Check that the accounting equation remains in balance after each transaction.

Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on accounting equation leave cells blank.