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Required information Rawlco Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $1,500. Supplier intends
Required information Rawlco Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $1,500. Supplier intends to deliver later in the month. b. Purchased equipment that cost $20,000; paid $6,000 cash and signed a promissory note to pay $14,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $5,000 cash in the company's checking account. d. Hired a new finance manager on the last day of the month. e. Received an investment of $8,000 cash from the company's owners in exchange for issuing common shares. f. Supplies [ordered in (a)] were received, along with a bill for $1,500. Required: 1. Indicate the specific account, amount, and direction of effects for each transaction on the radio station's accounting equation. If an event is not considered a transaction, leave the account, amount and direction of effects blank. (Enter any decreases to account balances with a minus sign.) Stockholders' Equity Liabilities Assets a. b. C. d. e. f. Totals
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