Question

A newly formed company provides the following list of transactions. Transaction Description Amount 1 Started the company by issuing common stock 45,000 2 Borrow cash by signing a note 9,000 3 Provided services to customers on account 12,000 4 Purchased supplies on account 3,000 5 Paid employees’ salaries for the current month 6,000 6 Paid dividends to stockholders 4,000 Required: 1. Determine the impact of each transaction on the accounting equation. Note: Not every cell will require a formula or cell reference. If neither is needed, then leave the cell blank. 2. Use a conditional statement to evaluate whether the accounting equation balances.

          A newly formed company provides the following list of transactions.
Transaction
Description
Amount
1
Started the company by issuing common stock
45,000
2
Borrow cash by signing a note
9,000
3
Provided services to customers on account
12,000
4
Purchased supplies on account
3,000
5
Paid employees’ salaries for the current month
6,000
6
Paid dividends to stockholders
4,000
Required:
1. Determine the impact of each transaction on the accounting equation.
Note:  Not every cell will require a formula or cell reference.  If neither is needed, then leave the cell blank.
2.  Use a conditional statement to evaluate whether the accounting equation balances.

Added by Brian S.

Question

Please give Ace some feedback