ent Wages Expense No No Yes HOM, Wen Review the accounting equation definition as well as the definions of each component Transactions Consider the following transactions for Thomas Company and their effect on the accounting equation Pace the cursor on each transaction for transaction details. Determine the new balance for each component of the accounting equation resulting from the transaction. You will not need to enter the amount of each transaction, only the balance after the transaction.) If an amount box does not require an entry leave it blank Transaction Assets Liabilities + Stockholders' Equity Beginning $0 50 50 1. Investment in the business 17,010 07 17,010 2. Borrow cash 7,620 x 7,620 X 17,010 3. Purchase equipment 298,400 X 0 X 17,010 4. Neves carned OX $ 0 X 17,010 x 5. Expenses incurred 111,810 X 5 7,700 x 104,110 X G D vidends -15,400 X 7,700 X 17,010 X Foad Check My Wor Cuck My Work Email Instructor Save and Eat Submit Assignment for Grading M now.comment takeAssignmentMain dotiwoker=&takeAssignmentSessionLocatorkinprogress=false ignment The Accounting Equation + The foundation for the accounting system and the financial statements is the accounting equation. Select the terms that complete the accounting equation Accounting Equation Assets Liabilities Stockholders' Equity For each of the following items, indicate the element of the accounting equation to which it belongs: Assets, Liabilities or Stockholders' Equity (Select "Yes" or "No" from the below dropdowns.) Assets Liabilities Stockholders' Equity Accounts Payable No Yes No Accounts Receivable Yes No No Auto Expense No No Yes Common Stock No No Yes Cash Yes y No No Dividends No No Yes Fees Earned No No Yes Land Yes No No Miscellaneous Expense No No Yes Supplies Yes NO No Supplies Expense No No Yes Wages Expense No No Yes Check My Work All work saved Emainstructor Save and Sub ASS ent Wages Expense No No Yes HOM, Wen Review the accounting equation definition as well as the definions of each component Transactions Consider the following transactions for Thomas Company and their effect on the accounting equation Pace the cursor on each transaction for transaction details. Determine the new balance for each component of the accounting equation resulting from the transaction. You will not need to enter the amount of each transaction, only the balance after the transaction.) If an amount box does not require an entry leave it blank Transaction Assets Liabilities + Stockholders' Equity Beginning $0 50 50 1. Investment in the business 17,010 07 17,010 2. Borrow cash 7,620 x 7,620 X 17,010 3. Purchase equipment 298,400 X 0 X 17,010 4. Neves carned OX $ 0 X 17,010 x 5. Expenses incurred 111,810 X 5 7,700 x 104,110 X G D vidends -15,400 X 7,700 X 17,010 X Foad Check My Wor Cuck My Work Email Instructor Save and Eat Submit Assignment for Grading M now.comment takeAssignmentMain dotiwoker=&takeAssignmentSessionLocatorkinprogress=false ignment The Accounting Equation + The foundation for the accounting system and the financial statements is the accounting equation. Select the terms that complete the accounting equation Accounting Equation Assets Liabilities Stockholders' Equity For each of the following items, indicate the element of the accounting equation to which it belongs: Assets, Liabilities or Stockholders' Equity (Select "Yes" or "No" from the below dropdowns.) Assets Liabilities Stockholders' Equity Accounts Payable No Yes No Accounts Receivable Yes No No Auto Expense No No Yes Common Stock No No Yes Cash Yes y No No Dividends No No Yes Fees Earned No No Yes Land Yes No No Miscellaneous Expense No No Yes Supplies Yes NO No Supplies Expense No No Yes Wages Expense No No Yes Check My Work All work saved Emainstructor Save and Sub ASS
