-xercises Set A 1A-1. Complete the following table: 1A-2. 1A-3. 1A-4. Assets Liabilities + Owner's Equity a. $17,500 ? + $11.500 b. $5,000 + $60,000 c. $15,000 $12,000 + Record the following transactions in the basic accounting equation. Treat each one separately Assets Liabilities + Owner's Equity a. Morgan invests $124,000 in company b. Bought equipment for cash, $1,300. c. Bought equipment on account, $900. From the following, prepare a balance sheet for Rabbitt Co. Cleaners at the end of September 201X: Cash, $67,000; Equipment, $7,000; Accounts Payable, $13,000; B. Rabbitt, Capital. Record the following transactions in the expanded accounting equation. Do not calculate a running balance. CHAPTER 1 Accounting Concepts and Procedures LaDAccounting L01 (5 min) L01 (5 min) L02 (10m LO3 (15 Assets Cash Accounts Receivable +Computer Equipment Liabilities Accounts Payable Owner's Equity +B. Baker, Capital 8. Baker, Withdrawals Revenues - Expenses (20 min) L04 1A-5. a. Baker invested $80,000 in a computer company b. Bought computer equipment on account, $4,000. e Baker paid personal telephone bill from company checkbook, $125. d. Received cash for services rendered, 513,600. e. Billed customers for services rendered for month, $30,000. f. Paid current rent expense, $4,100. 9. Paid supplies expense, $1,490. From the following account balances, prepare in proper form for June (a) an income statement, (b) a statement of owner's equity, and (c) a balance sheet for Freeman Realty Cash Accounts Receivable $5,200 1,370 S. Freeman, Withdrawals Professional Fees $225 3,100 Office Equipment 11.500 Salaries Expense 450 Accounts Payable 6,000 Utilities Expense 150 5. Freeman, Capital, June 1, 201X 10,245 Rent Expense 450