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Supplementary Problems 000) 1.22 Company A had the following transactions during 19X3. (a) The owner invested a building in the business. (b) A piece
Supplementary Problems 000) 1.22 Company A had the following transactions during 19X3. (a) The owner invested a building in the business. (b) A piece of land was purchased partially for cash and the remainder for a note payable. (c) Services were performed and cash was immediately collected. (d) Services were performed on account. (e) Supplies were purchased for cash. () Merchandise was purchased on account (periodic system). (g) The owner withdrew cash. (h) A telephone bill was received but not paid. (i) The merchandise purchased in transaction (f) was paid for. Analyze these transactions in terms of their effects on the accounting equation. 1.23 For the transactions in Problem 1.22, prepare a journal entry (without numbers) for each transaction.
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