Question

The following transactions were completed by the company. a. The owner (Alex Carr) invested $17.600 cash in the company. b. The company purchased supplies for $1150 cash, c. The owner (Alex Carr) Invested $11,300 of equipment in the company. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10,300 cash. Required: Enter the impact of each transaction on Individual items of the accounting equation (Enter decreases to account balances with a minus sign.) Assets Cash Supplies Liabilities Accounts Payable + Equipment + Land A. Carr Capital Equity A. Carr, Withdrawals Revenue Expenses a + + - Bal + + 0 + Bal d Bal Bal

Answer 1

Answer
Assets									Liabilities		Equity
	Cash	+	Supplies	+	Equipment	+	Land	=	Accounts payable	+	A. Carr, Capital	-	A. Carr, Withdrawls	+	Revenue	-	Expenses
a.	$       17,600										$            17,600
b.	$   (1,150)		$      1,150
Bal.	$       16,450		$      1,150		$             -		$             -		$                      -		$            17,600		$                          -		$        -		$         -
c.					$      11,300						$            11,300
Bal.	$       16,450		$      1,150		$      11,300		$             -		$                      -		$            28,900		$                          -		$        -		$         -
d.			$         330						$     330
Bal.	$       16,450		$      1,480		$      11,300		$             -		$     330		$            28,900		$                          -		$        -		$         -
e.	-$       10,300						$      10,300
Bal.	$         6,150		$      1,480		$      11,300		$      10,300		$     330		$            28,900		$                          -		$        -		$         -