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Analysing accounting equation effect of the transaction

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Sweet Shop Co. is a chain of candy stores that has been in operation for the past 10 years Analysing the accounting equation effect of the transaction and compute total assets liabilities and equity. make a proper chart

a. Ordered and received $12,000 worth of cotton candy machines from Candy Makers Inc., which Sweet Shop Co. will pay for in 45 days.

b. Sent a check for $6,000 to Candy Makers Inc. for the cotton candy machines from (a).

c. Received $400 from customers who bought candy on account in previous months.

d To help raise funds for store upgrades estimated to cost $20,000, Sweet Shop Co. issued 1,000 common sharesor $15 each to existing stakeholders

e. Sweet Shop Co. bought ice cream trucks for $60,000 total, paying $10,000 cash and signing a long term note of 50000.

Reference no: EM133459114

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