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SOLVE THE FOLLOWING TRANSACTIONS USING ACCOUNTING EQUATION: 1 . Biris invests $ 5 0 , 0 0 0 of personal funds to start the business.

SOLVE THE FOLLOWING TRANSACTIONS USING ACCOUNTING EQUATION:
1. Biris invests $50,000 of personal funds to start the business.
2. The business purchases, on account, office supplies costing $2,000.
3. Biris Web Design pays cash of $26,000 to acquire a parcel of land. The business intends to use
the land as a future building site for its business office.
4. The business provides services for clients and receives cash of $10,000.
5. The business pays $1,000 on the account payable created in Transaction (b).
6. Biris pays $2,750 of personal funds for a vacation for his family.
7. The business pays cash expenses for office rent, $2,500, and utilities, $500.
8. The business returns to the supplier office supplies that cost $300. The wrong supplies were
shipped.
9. Biris withdraws $3,000 cash for personal use.

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