Question

please complete all parts of the question and explain work

Data Visualization 2-1 Effects on the accounting equation During its first year of operations, Willie Winn Running Shoes entered into five transactions affecting shareholders' equity. The bar chart below depicts the company's total assets, total liabilities, and total shareholders' equity after each of five transactions. The bar on the left is total assets, and the stacked bar on the right includes total liabilities and total shareholders' equity. Beginning balances prior to Transaction 1 are $0. Answer the following questions Effect on Assets, Liabilities, and Shareholders' Equity of Five Transactions $120,000 $100,000 Assets $80,000 Liabilities Stockholders' Equity $60,000 $40,000 $20,000 Bog. = $0 2 Transactions Click here to open the graph(s) in a new tab.

Answer 1

Note: NE denotes 'No Effect'.

1.

Assets	Liabilities	Stockholders' Equity
+	NE	+

2a.

Assets	Liabilities	Stockholders' Equity
+	+	NE

2b. Purchase equipment by signing a note payable.

3a.

Assets	Liabilities	Stockholders' Equity
+	NE	+

3b. Provide services to customers on account.

4a.

Assets	Liabilities	Stockholders' Equity
-	NE	-

4b. Pay employee salaries for the current period.

5a.

Assets	Liabilities	Stockholders' Equity
-	-	NE

5b. Repay a portion of a note payable.