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The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock
The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $25 per share. Leased $8,100 of equipment, paying $1,900 in cash and signing a long-term right-of-use lease for the rest owed. Borrowed $6,000 cash from a bank. Loaned $1,100 to an employee who signed a note due in six months. Purchased $17,258 of land; paid $7,000 in cash and signed a note for the balance. Required: For each of the events (a) through (e), perform transaction analysis and indicate the account and amount. Check that the accounting equation remains in balance after each transaction
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