Assets | = | Liabilities | + | Stockholders' Equity | ||||
a. | Cash | 12,000 | = | + | Common stock | 12,000 | ||
b. | Cash | 9,000 | = | Notes payable | 9,000 | + | ||
c. | Equipment | 1,000 | = | Accounts payable | 1,000 | + | ||
d. | Land | 16,000 | = | Notes payable | 14,600 | + | ||
Cash | -1,400 | = | + | |||||
e. | Equipment | 5,000 | = | Accounts payable | 3,600 | + | ||
Cash | -1,400 | = | + |
The following events occurred for Favata Company a. Received $12,000 cash from owners and issued stock...
The following events occurred for Favata Company: a. Received $13,000 cash from owners and issued stock to them. b. Borrowed $10,000 cash from a bank and signed a note due later this year C. Bought and received $1,100 of equipment on account d. Purchased land for $18,000: paid $1,600 in cash and signed a long-term note for $16,400 e Purchased $6,000 of equipment: paid $1,600 in cash and charged the rest on account Required: each of the events (a) through...
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. Bought and received $800 of equipment on account. d. Purchased land for $12,000; paid $1,000 in cash and signed a long-term note for $11,000. e. Purchased $3,000 of equipment; paid $1,000 in cash and charged the rest on account. Required For each of the events (a) through...
Check my work The following events occurred for Favata Company a. Received $11,000 cash from owners and issued stock to them b. Borrowed $8,000 cash from a bank and signed a note due later this year. c. Bought and received $900 of equipment on account. d. Purchased land for $14,000; paid $1.200 in cash and signed a long-term note for $12,800 e. Purchased $4,000 of equipment; paid $1,200 in cash and charged the rest on account. Required: For each of...
The following events occurred for Favata Company: a. Received $17,000 cash from owners and issued stock to them. b. Borrowed $14,000 cash from a bank and signed a note due later this year. C. Bought and received $1,500 of equipment on account. d. Purchased land for $26,000; paid $2,400 in cash and signed a long-term note for $23,600. e. Purchased $10,000 of equipment; paid $2,400 in cash and charged the rest on account. Required: For each of the events (a)...
The following events occurred for Favata Company. a. Received $17,500 cash from owners and issued stock to them. b. Borrowed $14,500 cash from a bank and signed a note due later this year. c. Bought and received $1,550 of equipment on account. d. Purchased land for $27000; paid $2.500 in cash and signed a long-term note for $24.500. e. Purchased $10,500 of equipment; paid $2.500 in cash and charged the rest on account Required: For each of the events in...
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock to themm b. Borrowed $7,000 cash from a bank and signed a note due later this year. c. Bought and received $800 of equipment on account. d. Purchased land for $12,000; paid $1,000 in cash and signed a long-term note for $11,000 e. Purchased $3,000 of equipment; paid $1,000 in cash and charged the rest on account. Required For each of the events in...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,070 shares of $1 par value common stock with a market price of $20 per share. b. Purchased $9,000 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $9,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,052 of land; paid $9,000 in cash and...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,010 shares of $1 par value common stock with a market price of $5 per share. b. Purchased $8,200 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $5,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,159 of land; paid $4,000 in cash and...
E2-4 Determining Financial Statement Effects of Several Transactions (L01, LO2) The following events occurred for Favanta Company a. Received $10,000 cash from owners and issued shares to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. c. Purchased land for $12,000; paid $1,000 in cash and signed a note for the $11,000 d. Bought and received $800 of equipment on account. e. Purchased $3,000 of equipment, paying $1,000 in cash and charged the...
The following events occurred for Johnson Company: 0.5 points a. Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $10 per share. b. Purchased $8,500 of equipment, paying $1,100 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $10,000 cash from a bank. d. Loaned $900 to an employee who signed a note. e. Purchased $17,874 of land; paid $9,000 in...