QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company. a. The owner invested $18,400 cash in the company in exchange for its common stock. b. The company purchased supplies for $1,350 cash. c. The owner invested $11,700 of equipment in the company in exchange for more common stock. d. The company purchased $370 of additional supplies on credit. e. The company purchased land for $10,700 cash. Assets = Liabilities + Equity Cash + Supplies - Equipment + Land = Accounts Payable + Common Stock - Dividends + Revenue - Expenses .. 0 + 0 0 - Toto 10 0 0 + 0 - 0 + 0 + 0 - 0