during 2012 newberry company entered into the following transactions 534312
During 2012, Newberry Company entered into the following transactions.
1. Purchased equipment for $286,176 cash.
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during 2012 newberry company entered into the following transactions 534312
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2. Issued common stock to investors for $137,590 cash.
3. Purchased inventory of $68,480 on account.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders” Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration 3-3 (page 110) as a model.
|
Assets |
= Liabilities |
+ Stockholders” Equity |
||||
|
Cash |
+Inventory |
+Equipment |
Accounts |
Common |
Common |
Retained |
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