Answer:
Impact of Transactions on the Accounting Equation:
Transaction Assets = Liabilities + Stockholders' Equity
1. 15,000 = 0 15,000
2. 9,000 = 9,000 0
3. 1,200 = 1,200 0
4. 2,400 = 2,400 0
5. -12,000+12,000 = 0 0
6. 3,000 = 0 3,000
7. -4,000 = -4,000 0
8. -2,400 = -2,400 0
9. 0 = -1,200 1,200
10. -1,000 = 0 -1,000
Totals $23,200 = $5,000 $18,200
Explanation:
a) Data and Analysis:
1. Cash, $15,000 Common Stock
2. Cash $9,000 Bank Loan $9,000
3. Cash $1,200 Deferred Revenue $1,200
4. Supplies $2,400 Accounts Payable $2,400
5. Prepaid Rent $12,000 Cash $12,000
6. Accounts Receivable $3,000 Service Revenue $3,000
7. Bank Loan $4,000 Cash $4,000
8. Accounts Payable $2,400 Cash $2,400
9. Deferred Revenue $1,200 Service Revenue $1,200
10. Dividends $1,000 Cash $1,000
