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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 $30,000. b. Purchase
The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $30,000. b. Purchase bike equipment by signing a note with the bank for $22,000. c. Repay $15,000 of the note in (b) above. d. Pay utilities of $3,000 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.) Transaction Assets (a) = (b) = (c) = (d) II Liabilities Stockholders' Equity + + + = +
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