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The following transactions were completed by the company. a. The owner invested $15,000 cash in the company in exchange for its common stock. b. The
The following transactions were completed by the company. a. The owner invested $15,000 cash in the company in exchange for its common stock. b. The company purchased supplies for $500 cash. c. The owner invested $10,000 of equipment in the company in exchange for more common stock. d. The company purchased $200 of additional supplies on credit. e. The company purchased land for $9,000 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Assets = Equity Dividends + Cash + Supplies + Equipment + Liabilities Accounts Payable Land Common Stock Revenue - Expenses a. + + + Bal. + + 0 = + + + Bal. 0 0 + 0 0 + 0 = + + + d. + + Bal. 0 + 0 + 0 = + 0 - 0 + 0 - + + + Bal 0 + 0 + 0 + 0 = 0 + 0 - 0 + 0
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