The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. a. Issued 54,000 shares of non-par common stock in exchange for $540,000 in cash.
b. Purchased equipment at a cost of $88,000. $22,000 cash was paid and a notes payable to the seller was signed for the balance owed.
c. Purchased inventory on account at a cost of $164,000. The company uses the perpetual inventory system.
c. Credit sales for the month totaled $240,000. The cost of the goods sold was $144,000.
d. Paid $7,250 in rent on the warehouse building for the month of March.
e. Paid $7,600 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021.
d. Paid $144,000 on account for the merchandise purchased in 3.
f. Collected $108,000 from customers on account.
g. Recorded depreciation expense of $2,200 for the month on the equipment.

Required:
Analyze each transaction and show the effect of each on the accounting equation for a corporation.

Solution :

The accounting equation for transaction is :

       Assets =    Liabilities   +  paid in capital   +   retained earning

1.       54,000        0                      54,000                      0

2.      66000       66000                 0                              0

3.       164000     164000                0                              0

4.       96000        0                         0                         96000

5.       -7250          0                        0                          -7250

6.           0              0                        0                             0

7.      -144000    -144000                0                             0

8.           0               0                       0                             0

9.       -2200          0                      0                       -2200    

       226,550     860,00             540,00               865,50

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants