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Pandey Inc. had the following activities during the month: A. Borrowed $860,000 cash, signing a promissory note. B. Bought a building for $1,120,000, paying $255,000
Pandey Inc. had the following activities during the month: A. Borrowed $860,000 cash, signing a promissory note. B. Bought a building for $1,120,000, paying $255,000 in cash and signing a promissory note for $865,000. C. Rented equipment at a cost of $26,000 per month and issued a check covering six months' rent. D. Provided $185,000 of services and billed customers. E. Purchased $62,000 of supplies on account. F. Received a utility bill for the current period in the amount of $4,400. G. Raised sales prices on 200 units from $420 per unit to $600 per unit. H. Received a 50% deposit from a customer on a $52,000 order to be filled next month. Required: a. Analyze the events listed below by indicating the accounts and amounts involved in the table below. In the column labeled "+/-", select the sign that describes how the accounting equation is affected. If the event should not to be recorded as a transaction, leave it blank. (Enter all amounts as positive values.) Assets Liabilities Stockholders' Equity FT
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