Reference no: EM132636289

Question 1: Analyze the transactions in terms of their effects on the accounting equation of College Town USA.

Question 2: Analyze the events? sequentially, one transaction at a? time, beginning with transaction? (a), then transaction? (b), and so on. For each transaction that follows transaction? (b), calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account after transaction? (g), calculate total assets and total liabilities and equity.

Here are the transactions:

a. Smeldon contributes $50,000 to the business. The business gives capital to Smeldon.

b. Purchases $200 of office supplies on account.

c. Pays cash of $25,000 to acquire a lot next to campus.

d. Locates apartments for clients and receives cash of $2,200.

e. Pays $100 on the accounts payable the business created in Transaction? (b).

f. Pays cash expenses for office? rent, $400?, and? utilities, $100.

g. Smeldon withdrew cash of $1,600.