Reference no: EM13919991

The following business scenarios are independent from one another:

1. Bob Wilder starts a business by transferring $10,000 from his personal checking account into a checking account for his business, Wilder Co. 
2. A business that Sam Pace owns earns $4,600 of cash revenue.
3. Jim Sneed borrows $30,000 from the National Bank and uses the money to purchase a car from Iuka Ford. 
4. OZ Company pays its five employees $2,500 each to cover their salaries. 
5. Gil Roberts loans his son Jim $5,000 cash. 
6. Gane, Inc., paid $100,000 cash to purchase land from Atlanta Land Co. 
7. Rob Moore and Gil Thomas form a partnership by contributing $20,000 each from their personal bank accounts to a partnership bank account. 
8. Stephen Woo pays cash to purchase $5,000 of common stock that is issued by Izzard, Inc. 
9. Natural Stone pays a $5,000 cash dividend to each of its seven shareholders. 
10. Billows, Inc., borrowed $5,000,000 from the National Bank. 

Required:

a. For each scenario create a list of all of the entities that are mentioned in the description. 
b. Describe what happens to the cash account of each entity that you identified in Requirement a.