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The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its
The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. 1. 2. 3. 4. 5. Cash + $ 30,000 + -4,900 -1,090 +2,350 $ 26,360 Transaction 1. 2. 3. 4. 5. + + Assets Accounts Receivable + $0 + 2,350 2,350 $0 + + Supplies $ 3,900 1,090 $ 4,990 Description + + + + Land $ 23,500 4,900 $ 28,400 = = Liabilities + Accounts Payable $0 +1,090 -1,090 $0 + + + Equity + + Common Stock $ 57,400 $ 57,400 + Revenues $0 2,350 $ 2,350
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