Q

The transactions of Net Solutions: 1. Chris, the owner, invested $50,000 cash in the company 2. The company purchased office equipment for $6,000 on account. 3. The company purchases land for $30,000 cash. 4. The company purchased office supplies for $2,000 using cash. 5. The company received $7,500 cash for creating a webpage for its customer. 6. The company makes a payment of $2,500 to the credit card company. 7. The company paid $1,000 cash for the electric bill 8. The company pays $2,000 in wages to an employee. 9. The company receives $2,500 cash for creating a database for the customer. Required: Record the above transactions in the table below, reflecting their effect on the different financial statements. Precede the amount with a minus sign if the transaction reduces that section of the equation.

Liabilities Equity Transaction #/Balance Cash Assets Office Office Equipme Supplies nt Land Accounts Payable Owner's Equity 1 | Balance 2 Balance 3 Balance Balance 5 Balance Balance Balance Balance Balance