Problem

T-accounts and the accounting equationRequiredRecord each of the following Lang Co. events...

T-accounts and the accounting equation

Required

Record each of the following Lang Co. events in T-accounts, and then explain how the event affects the accounting equation.

a.    Received S5.000 cash by issuing common stock.

b.   Purchased supplies for $250 cash.

c.     Purchased land for $10,000 cash.

d.   Performed services for $800 cash.

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