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The effects of the above transactions on account equation

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The following transactions or events occurred for abc's company during 2014. this was the company's first year of operations.

  1. issued stock to several investors 
  2. borrowed $50,000 cash from the wells fargo bank. signed a note payable. 
  3. provided services to its customers and received $20,000 cash 
  4. paid various expenses of $15,000
  5. paid $22,000 cash for some equipment 
  6. received $12,000 cash from a customer for services to be performed next year 

7. Prepaid $5,000 of the loan from wells fargo bank listed in item 2 show the effects of the above transactions on the account equation below. indicate dollar amounts amounts of increases and decreases. precede the amount with a minus sign or (brackets)if the event reduces that section of the equation. enter NA for items not effected. if one section is affected by an increase and also a decrease , enter each part on a separate line. the first transaction is done for you.

Reference no: EM131800479

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