Reference no: EM131800479

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.