Question

Do E2-2A and please no handwritings type the answers

EXERCISES-SET A L02 E 2-1A. Acc ounting Equation Determine the missing amount in each of the following cases: Liabilities Stockholders' Equity $175,000 $61,000 Assets a. $320,000 b. c. $121,000 $42,000 $71,000 LO2 E2-2A. Transaction Analysis Following the example shown in (a) below, indicate the accounting effects of the listed transactions on the assets, liabilities, and stockholders equity of Martin & Company.a corporation: a. Purchased, for cash, a desktop computer for use in the office. ANSWER: Increase assets (Office Equipment) Decrease assets (Cash) b. Rendered services and billed the client. c. Paid rent for the month. d. Rendered services to a client for cash. e. Received amount due from a client in Transaction (b). f. Purchased an office desk on account. g. Paid employees' salaries for the month. h. Paid for desk purchased in Transaction (f). i. The company paid a dividend.

Answer 1

Answer

• Requirement E2 – 2A

Requirements	Increases		Decreases
a	Assets	Office Equipment	Assets	Cash
b	Assets	Accounts receivables
	Stockholder's Equity	Service revenue
c			Assets	Cash
			Stockholder's Equity	Rent Expense
d	Assets	Cash
	Stockholder's Equity	Service revenue
e	Assets	Cash	Assets	Accounts receivables
f	Assets	Office Equipment
	Liabilities	Accounts Payable
g			Assets	Cash
			Stockholder's Equity	Salaries Expense
h			Assets	Cash
			Liability	Accounts Payable
i			Assets	Cash
			Stockholder's Equity	Dividends [retained earnings]