Homework Answers
| 1) The effects of the transaction in the Accounting Equation: | ||||||||
| Date | Assets | EQUAL TO | Liabilities | plus | Stockholder's Equity | |||
| Cash | Machine (net) | EQUAL TO | plus | |||||
| 1-Jan | 22000 | EQUAL TO | 22000 | plus | ||||
| 2-Jan | -8000 | EQUAL TO | -8000 | plus | ||||
| 3-Jan | -1400 | 1400 | EQUAL TO | plus | ||||
| 5-Jan | -2800 | 2800 | EQUAL TO | plus | ||||
| 1-Jul | -14700 | EQUAL TO | -14000 | plus | -700 | |||
| 31-Dec | -2290 | EQUAL TO | plus | -2290 | (26200-3300)/10 | |||
| Balance | -26900 | 23910 | EQUAL TO | 0 | plus | -2990 | ||
| Grand Bal | -2990 | EQUAL TO | -2990 | |||||
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