The Accounting Equation Chapter Activity #1 A. The owner (Alex Carr) invested $15, 000 cash in the company B. The company purchased supplies for $500 cash C. D. 40 E. 31 F. 13 18 14 14 17 19 21 22 G. H. 1. J. The company purchased $10,000 of equipment on credit. The credit was given based on a written note stating the terms of payment The company purchased $200 of additional supplies on credit The company purchased land for $9,000 cash The company received $7000 cash for plowing service provided to JMD company The company paid $600 for rent; $250 for utilities The company provided $9500 plowing service to MMJ on credit MMJ paid $9500 for the service received The company paid $5000 on the notes payable for the equipment purchased on credit Note: use parenthesis around numbers to denote subtraction. Example ($500) Use Exhibit 5 as an example to show the effect of each transaction on individual items of the accounting equation 31 34