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

The following events occurred for Johnson Company:

a$.$ Received investment of cash by organizers and distributed to them $1,130$ shares of $$1$ par value common stock with a market price of $$15$ per share.

b$.$ Leased $$8,000$ of equipment, paying $$1,700$ in cash and signing a long$-$term right$-$of$-$use lease for the rest owed.

c$.$ Borrowed $$6,000$ cash from a bank.

d$.$ Loaned $$1,300$ to an employee who signed a note due in six months.

e$.$ Purchased $$17,093$ of land; paid $$8,000$ 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.

Answer is complete but not entirely correct.

$\backslash$table$[[$Event$,$Assets,,,$=,$Liabilities,,,$+,$Stockholders',,$],[$a$.,$Cash,$(2),16,950,=,,,00,+,$Common stock,$(2),1,130],[$a$.,,,0,=,,,00,+,$Additional paid$-$in$-$capital,$(,15,820],[$b$.,$Cash,V$,(1,700),=,$Long$-$term lease liabilities,$(8,8,000\backslash$times $,+,,,0],[$b$.,$Operating lease right$-$of$-$use assets,$2,8,000,=,,,00,+,,,0],[$c$.,$Cash,$(,6,000,=,$Notes payable,$(6,6,000,+,,,0],[$c$.,,,00,=,,,00,+,,,00],[$e$.,$Cash,$(,(8,000),=,$Notes payable,$(5,9,093,+,,,0],[$e$.,$Land,$(,17,093,=,,,00,+,,,00]]$