Transactions Consider the following transactions for Thomas Company and their effect on the accounting equation. Click on each transaction for transaction details. Determine the new balance for each component transaction. (You will not need to enter the amount of each transaction, only the balance after the transaction.) If an amount box does not require an entry, leave it blank. Transaction Assets = Liabilities + Stockholders' Equity Beginning $0 1. Investment in the business S $ 2. Borrow cash $ $ 3. Purchase equipment $ $ 4. Revenues earned $ 5. Expenses incurred $ S $ 6. Dividends $ 69 Principles and Assumptions 1. Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates. Scenario Accounting Principle or Assumption Although GGE Enterprises Inc. received a good deal on a used truck, the amount recorded in the accounting records is the amount the company paid, not the amount the truck was actually worth. Thomas Company provides earnings information to investors at the end of every quarter. GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer's payment is recorded