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Consider the following transactions for Thomas Company and their effect on the accounting equation. Place the cursor on each transaction for transaction details. Determine the new balance for each component of the accoonting 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, vowak My Wie thin transaction, eamomber to earry the pervious balance torward. Principies and Assumptions 1. Match each of the toliowing scenarios with the accounting printiple or accoonting assumption that it best illustrates. Scenario Accounting Principle or Assumption GGE Enterprises Inc. On November 1 of the current year, Rob Eiliot invested 531,000 of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of curtimon stock. Na other common stock was issued during Navember or December. After a very successful first month of operations, the retained eamings af of November 30 were reported at $5,000. After all trensactions have been entered into the accounting equation for the month of December, the ending balances for selected items an December 31 follow. On that date, the financial statements were prepared, The balance sheet reported total assets of $53, 900 and total stockholders equity of s3v. 125 Rieview the foilowing questions. Indicate which financial statement(s) feport the desired information. Enter the amount reported on the financial statement. (Seloct "Yes' or "No" from the belaw dropdowns.) Consider the following transactions for Thomas Company and their effect on the accounting equation. Place the cursor on each transaction for transaction details. Determine the new balance for each component of the accoonting 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, vowak My Wie thin transaction, eamomber to earry the pervious balance torward. Principies and Assumptions 1. Match each of the toliowing scenarios with the accounting printiple or accoonting assumption that it best illustrates. Scenario Accounting Principle or Assumption GGE Enterprises Inc. On November 1 of the current year, Rob Eiliot invested 531,000 of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of curtimon stock. Na other common stock was issued during Navember or December. After a very successful first month of operations, the retained eamings af of November 30 were reported at $5,000. After all trensactions have been entered into the accounting equation for the month of December, the ending balances for selected items an December 31 follow. On that date, the financial statements were prepared, The balance sheet reported total assets of $53, 900 and total stockholders equity of s3v. 125 Rieview the foilowing questions. Indicate which financial statement(s) feport the desired information. Enter the amount reported on the financial statement. (Seloct "Yes' or "No" from the belaw dropdowns.)