Question 1 :

Company Purchased inventory $5,000 on account. It will pay within 30 days.

(Please see ppt slice 30 as reference)

ASSET

=

Liability

+

Equity

Question 2:

Company provided services to client and collected $2,500 in Cash

(Please see ppt slice 31 as reference)

ASSET

=

Liability

+

Equity

Question 3:

Company paid $4,500 in cash expenses: $1,000 utility expenses; $1,800 rent expenses ; $1,700 salaries expenses.

(please see ppt slice 33 as reference)

ASSET

=

Liability

+

Equity

Question 4:

Owner withdraw $800 from business.

(Please see ppt slice 35 as reference)

ASSET

=

Liability

+

Equity

Question 5:

company received $25,000 from owner.

(Please see ppt slice 28 as reference)

ASSET

=

Liability

+

Equity