Record the following transactions into the basic accounting equation:

Cash + Salon Equipment = Accounts Payable +

B. Reynold, Capital

Benson Reynold invests $27,000 to open a hair salon company.

The hair salon company buys new salon equipment for $15,000, paying $3,000 down and charging the balance. Calculate the ending balances.

Transaction lines are identified by the corresponding transaction number (1. and 2.) Enter each transaction in the appropriate columns of the expanded accounting balances for each account. (If a box is not used in the tran or balance [Bal.] line leave the box empty; do not enter a zero.

 

K Record the following transactions into the basic accounting equation: Cash + Salon Equipment = Accounts Payable + B. Reynold, Capital Benson Reynold invests $27,000 to open a hair salon company. The hair salon company buys new salon equipment for $15,000, paying $3,000 down and charging the balance. Calculate the ending balances. 1. 2. Transaction lines are identified by the corresponding transaction number (1. and 2.) Enter each transaction in the appropriate columns of the expanded accounting balances for each account. (If a box is not used in the transaction or balance [Bal.] line leave the box empty; do not enter a zero. Enter a decrease in an account ca or parentheses.) 1. 2. Bal. Assets + Salon Equipment = 27,000 + (3,000) + 25,000 + Cash = 15,000 = 15,000 = Liabilities Accounts Payable + Owner's Equity B. Reynold, Capital 27,000 + + 12,000 + 12,000 + 27,000