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The following transactions were completed by the company. a. The owner invested $17,000 cash in the company in exchange for its common stock. b. The
The following transactions were completed by the company. a. The owner invested $17,000 cash in the company in exchange for its common stock. b. The company purchased supplies for $1,000 cash. c. The owner invested $11,000 of equipment in the company in exchange for more common stock d. The company purchased $300 of additional supplies on credit. e. The company purchased land for $10,000 cash. Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) Equity Assets Liabilities Accounts Payable Revenue Common Stock Expenses Supplies Cash Dividends Equipment Land = 0 ol 0 0 0 0 0 Bal. 0 0 - . 0 0 0 0 0 . 0 III 0 0 0 + + + + + + + + Bal . . d 0 0 0 0 0 III 0 + 0 Bal ol- 0 ++++ ... . 0 0 0 0 0 0 - Bal 0 0 0
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