Business, 05.02.2021 21:40 10040813

EFFECTS OF TRANSACTIONS (BALANCE SHEET ACCOUNTS) Jon Wallace started a business. During the first month (March 20--), the following transactions occurred. Show the effect of each transaction on the accounting equation: Assets = Liabilities + Ownerâ€™s Equity. After each transaction, show the new account totals. (a) Invested cash in the business, $30,000.

(b) Bought office equipment on account, $4,500.

(c) Bought office equipment for cash, $1,600.

(d) Paid cash on account to supplier in transaction (b), $2,000.

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EFFECTS OF TRANSACTIONS (BALANCE SHEET ACCOUNTS) Jon Wallace started a business. During the first mo...

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