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The following events occurred for Johnson Company: a, Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value
The following events occurred for Johnson Company: a, Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $20 per share. b. Leased $7,600 of equipment, paying $1,900 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $12,000 cash from a bank. d. Loaned $1,200 to an employee who signed a note due in six months. e. Purchased $17,960 of land; paid $5,000 in cash and signed a note for the balance. Required: For each of the events (a) through (e), perform transaction analysis and indicate the count and amount. Check that the accounting equation remains in balance after each transaction. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on accounting equation leave cells blank. Event a Cash a Intangibles b. b c C d d e. Answer is not complete. Liabilities Stockholders' Equity + Common stock 1,090 Additional paid-in-capital Assets 10,900 - 7,600 = Accounts receivable. 5,700 Notes payable = 12,000+ " .
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