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nataliem02
24.06.2020 •
Business
During 2014, Comstock Company entered into the following transactions.
1. Purchased equipment for $286,176 cash.
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 Illustration3-3 as a model.
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Ответ:
1.
Assets : Increase $286,176, Decrease $286,176
Liabilities : No Effect
Equity : No Effect
2.
Assets : Increase $137,590
Liabilities : No Effect
Equity : Increase $137,590
3.
Assets : Increase $68,480
Liabilities : Increase $68,480
Equity : No Effect
Explanation:
Purchase of equipment
This will increase the assets of Equipment and decrease the Assets of Cash. No effect on the other elements of the Accounting Equation.
Issuance of common stock
This will increase the assets of cash and increase the shareholder`s equity. No effect on liabilities
Purchased inventory on Account.
This will Increase the assets of inventory and also increase the assets of Accounts Payable. No effect on Equity
Ответ:
the ANSWER IS B
Explanation:
I took the test and got it right it is B