Question
For each of the following transactions, show the impact on the accounting equation:both (+ or -), and the applicable $ amount. 1.Shareholders invested $6,000.00 cash
For each of the following transactions, show the impact on the accounting equation:both (+ or -), and the applicable $ amount.
1.Shareholders invested $6,000.00 cash to open a consulting business.
2.The business completed state and federal income tax returns for a customer, and charged $600.00, which the customer agreed to pay within 30 days.
3.The business purchased supplies costing $400.00, paying cash.
4.The business used $300.00 of the supplies shown in 3 above.
5.The business paid total of $1,000.00 cash in dividends to shareholders.
Click here for instructions on how to make a table in your essay response.
In your answer, make a table that looks like the one below, and enter your answers.
Assets Liabilities Owners Equity
1
2
3
4
5
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