Question
#1
View Policies Current Attempt in Progress During 2022, Blossom Company entered into the following transactions. 1. 2. Purchas
Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction cause
Liabilities Accounts Payable Stockholders Equity Retained Earnings Equipment $ Common Stock S S
#2

Transactions for Jayne Company for the month of June are presented below. June 1 2 Issues common stock to investors in exchan
-n stock to investors in exchange for $5,000 cash. ent on account for $1,100. landlord for June rent. meaton a bill for $700
3 Pays $740 to landlord for June rent. Sends Wil Wheaton a bill for $700 after completing 12 Identify the accounts to be debi
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Answer #1
1) Blossom company
Cash inventory Equipment = A/Payable C.S R.E
1) -323,240 323,240
2) 139,300 139,300
3) 71,720 71,720
2) Jayne
Account Account
Debited Credited
1-Jun cash common stock
2-Jun Equipment Accounts payable
3-Jun rent expense Cash
12-Jun Accounts receivable Service revenue
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