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The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $43,000. b. Purchase bike
The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $43,000. b. Purchase bike equipment by signing a note with the bank for $35,000. c. Repay $28,000 of the note in (b) above. d. Pay utilities of $4,300 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Stockholders' Transaction Assets = Liabilities + Equity (a) $ 43,000 = + $ 43,000 (b) $ 28,000 || = $ 28,000 + () (d) $ $ (28,000) = (4,300) = + + $ (4,300)
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