Homework Answers
| Solution-1 | ||
| Account Debited | Account Credited | |
| 1-Jun | Cash | Common Stock |
| 2-Jun | Equipment | Account Payable |
| 3-Jun | Rent Expense | Cash |
| 12-Jun | Account receivable | Service revenue |
| Solution-2 | |
| b) Computation of Increase in Stockholder Equity | |
| Beg Common Stock | $16,800 |
| Net
Income ( 9800-740-3600-250) |
$5,210 |
| Less: Dividend | -$1,900 |
| Ending Equity Balance | $20,110 |
| Less: Beg Equity | -$16,800 |
| Increase in equity by | $3,310 |
| Neet Income for the Month :- $5210 | |
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View Policies Show Attempt History Current Attempt in Progress -Your answer is partially correct Transactions for...
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View Policies Current Attempt in Progress During 2022, Blossom Company entered into the following transactions. 1. 2. Purchased equipment for $323,340 cash. Issued common stock to investors for $139,300 cash. Purchased inventory of $71,720 on account. 3. Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the...
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