Solution-Prepare a transaction analysis for the January

Prepare a transaction analysis for the January transactions

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Reference no: EM133143638

Question - Perez Company had the following transactions during January:

Jan 1 Issued $100,000 in stock to owners in exchange for cash to start the business.

Jan 5 Borrowed $50,000 from the bank by signing a notes payable.

Jan 10 Purchase equipment by paying cash for $25,000.

Jan 15 Paid January rent of $2,400 for the office space (hint: since this is for January, record as rent expense)

Jan 18 Performed services for customers and received cash immediately for $8,000.

Jan 20 Purchased $2,000 in supplies on account.

Required -

1- Prepare a transaction analysis for the January transactions.

2- Prove the accounting equation.

Reference no: EM133143638

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Prepare a transaction analysis for the January transactions

Reference no: EM133143638

Reference no: EM133143638

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