wner 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. Transactions Number Assets = Liabilities + Equ

wner 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. Transactions Number Assets = Liabilities + Equ

Name: a. The owner invested $15,000 cash in the company in exchange for its
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Description: 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 $2

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 6DQ

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

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.

Transactions Number

Assets

Liabilities

Equity

Cash

Supplies

Equipment

Land

Accounts Payable

Common Stock

−

Dividends

Revenue

−

Expenses

−

Balance after a and b

−

Balance after c

−

Balance after d

−

Balance after e

−

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