Answer:
(a)
Increase in Cash of $10,000 and Increase in Common Stock account of $10,000
Asset increases by $10,000; Owner's equity increases by $10,000. Accounting equation remains in balance.
(b)
Increase in Cash of $7,000 and Increase in Short-term Note Payable account of $7,000
Asset increases by $7,000; Liability increases by $7,000. Accounting equation remains in balance.
(c)
Increase in Fixed Asset of $800 and Increase in Account Payable account of $800
Asset increases by $800; Liability increases by $800. Accounting equation remains in balance.
(d)
Increase in Fixed Asset of $12,000, Decrease in Cash of $1,000 and Increase in Long-term Note Payable account of $11,000
Asset increases by $11,000; Liability increases by $11,000. Accounting equation remains in balance.
(e)
Increase in Fixed asset of $3,000, Decrease in Cash of $1,000 and Increase in Account Payable account of $2,000
Asset increases by $2,000; Liability increases by $2,000. Accounting equation remains in balance.
Explanation:
Explanation is given in Answer part
