The following events occurred for Johnson Company:

Received investment of cash by organizers and distributed to them 1,130 shares of $1 par value common stock with a market price of $15 per share.

Leased $8,000 of equipment, paying $1,700 in cash and signing a long-term right-of-use lease for the rest owed.

Borrowed $6,000 cash from a bank.

Loaned $1,300 to an employee who signed a note due in six months.

Purchased $17,093 of land; paid $8,000 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.

Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on accounting equation leave cells blank.

E2-4 (Algo) Determining Financial Statement Effects of Several Transactions LO2-3 The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,130 shares of $1 par value common stock with a market price of $15 per share. b. Leased $8,000 of equipment, paying $1,700 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $6,000 cash from a bank. d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $17,093 of land; paid $8,000 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. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on accounting equation leave cells blank