Reference no: EM132472821

Problem 1: Consider the following transactions for Thomas Company and their effect on the accounting equation. Click on each transaction for transaction details. Determine the new balance for each component of the accounting equation (assets, liabilities, owner's equity) resulting from the transaction. (You will not need to enter the amount of each transaction, only the balance after the transaction.) If an amount box does not require an entry, leave it blank. There's an amount of money for each underscore I just can't figure it out

Transaction                                    Assets=                        Liabilities+                     Owner's Equity

Beginning.                                    $0                         $0                                      $0

1. Investment in the business        ___                          ___                                    ___

2. Borrow cash                           ___                            ___                                    ___

3. Purchase equipment               ___                              ___                                      ___

4. Revenues earned                   ___                              ___                                       ___

5. Expenses incurred                   ___                                 ___                                      ___

6. Distributions                           ___                                ___                                         ___