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Tracy Hunters opens a research service near a college campus. She names the corporation Hunters Researchers, Inc. During the first month of operations, September 2021,
Tracy Hunters opens a research service near a college campus. She names the corporation Hunters Researchers, Inc. During the first month of operations, September 2021, the business engages in these transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Analyze the preceding transactions in terms of their effects on the accounting equation of Hunters Researchers, Inc. (Use parentheses or a minus sign for numbers to be subtracted. If an input field is not used in the table, leave the field empty; do not select a label or enter a zero. Enter the transactions in the same order as they appear in the transaction list.) Type of Stockholders' Equity Transaction Assets Liabilities Stockholders' Equity = + Office Accounts Common Retained Cash + Supplies + Land = Payble + Stock + Earnings (a) (b) More Info a. b. C. d. Hunters Researchers, Inc., issues its common stock to Tracy Hunters, who invests $28,000 to open the business. The company purchases on account office supplies costing $350. Hunters Researchers pays cash of $18,000 to acquire a lot next to the campus. The company intends to use the land as a building site for a business office. Hunters Researchers performs research for clients and receives cash of $2,100. Hunters Researchers pays $60 on the account payable that it created in transaction b. Hunters pays $1,700 of personal funds for a vacation. Hunters Researchers pays cash expenses for office rent ($390) and utilities ($65). The business sells a small parcel of the land for its cost of $5,000. The business declares and pays a cash dividend of $500. e. f. g. h. i. Print Done Requirements 1. Analyze the preceding transactions in terms of their effects on the accounting equation of Hunters Researchers, Inc. 2. Prepare the income statement, statement of retained earnings, and balance sheet of Hunters Researchers, Inc., after recording the transactions. Indicate the relationships within the statements that link them together. The balance sheet does not have to be classified. Print Done
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