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Required information Problem 1-7A Analyzing transactions and preparing financial statements LO P1, P2 The following informati
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Accounting Equation
assets Liabilities Equity
Date Expense Cash + Account Receivable + Office equipment = Account Payable + Common stock - Dividends + Revenue - Expenses
1 NA 40000 + + = + 40000 - + -
1 -2200 + + = + - + - 2200
3 NA + + 1890 = 1890 + - + -
5 -750 + + = + - + - 750
8 NA 5400 + + = + - + 5400 -
12 NA + 2500 + = + - + 2500 -
15 -750 + + = + - + - 750
20 NA 2500 + -2500 + = + - + -
22 NA + 3200 + = + - + 3200 -
25 NA 3200 + -3200 + = + - + -
26 NA -1890 + + = -1890 + - + -
27 NS + + 80 = 80 + - + -
28 -750 + + = + - + - 750
30 -300 + + = + - + - 300
30 -280 + + = + - + - 280
31 NA -1400 + + + - 1400 + -
42780 0 + 1970 80 + 40000 - 1400 + 11100 - 5030
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