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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
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. Assets = Liabilities + Equity Accounts Accounts Cash + Receivable + Supplies + Land = Payable Common + Stock + Revenues $ $ $ 20,000 + $ 0 + $ 4,000 + = $ 0 + + 1. -5,000 24,000 5,000 48,000 $ 0 2. + 1,100 3. + 2,400 4. -1,100 +1,100 -1,100 + 2,400 5. +2,400 2,400 $ $ $ 16,300 + $ 0 + $ 5,100 + = $ 0 + 29,000 $ 2,400 48,000 Transaction 1 2 3 4 5 Description
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