Part 1)

Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.

1. Issue $80,000 in stock

2. Borrow $65,000 from a bank

3. Receive payment of $12,000 owed by a customer

4. Pay $6,000 owed to a supplier

What is the net change in Total Assets?

Part 2)

Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.

1. Purchase equipment for $43,000 in cash

2. Receive payment of $11,000 owed by a customer

3. Buy $14,000 worth of manufacturing supplies on credit

4. Issue $70,000 in stock

5. Pay $8,000 owed to a supplier

6. Borrow $55,000 from a bank

7. Buy $17,000 worth of manufacturing supplies on credit

What is the net change in Total Equity?