E2-4 (Algo) Determining Financial Statement Enects of Several Transactions LO2-3 The following events occurred for Johnson Company: a. Recelved investment of cash by organizers and distributed to them 1,060 shares of $1 par value common stock with a market price of $5 per share. b. Leased $8,500 of equipment, paying $1,500 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $9.000 cash from a bank. d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $24,534 of land; paid $7,000 in cash and signed a note for the balance. Required: 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. E2-5 (Algo) Determining Financial Statement Effects of Several Transactions LO2-1, 2-3 Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent yeac. The amounts are rounded to millions, except for par value. a. Purchased additional bulldings for \$184 and equipment for \$260; pald \$408 in cash and signed a long-term note for the rest. b. lssued 110 shares of $2 par value common stock for $350 cash. c. Declared $130 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,616 cash. e. Several Nike investors soid their own stock to other imvestors on the stock exchange for $80. t. Sold $4,313 in short-term investments for $4,313 in cash. 9. Borrowed $6,054 from a bank; signed a note due in 20 years. h. Repurchased its common stock for $3,167 in cash. Required: For each of the events (a) through (m) perform transaction analysis and indicate the account and amounts. 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 the accounting equation leave cells blank. Enter your answers in millilons, (for example, 5,5 million should be entered as 5.5 rather than 5,500,000 ). h. Repurchased its common stock for $3,167 in cash. equired: or each of the events (a) through (m) perform transaction analysis and indicate the account and amounts. Check that the accounting quation remains in balance after each transaction. ote: Enter decreases to an element of the balance sheet with a minus sign. If no Impact on the accounting equation leave cells lank. Enter your answers in millions, (for example, 5.5 million should be entered as 5.5 rather than 5,500,000 )
