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The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. Assets = Liabilities + Accounts Equity + Accounts Receivable + $0 + Supplies + Land Payable Cash $ 29,000 + -4,800 Common Stock $0 + $ 55,800 + + Revenues $ 3,800 + $ 23,000 = $0 1. 4,800 2. 1,080 +1,080 3. 2,300 4. -1,080 -1,080 5. +2, 300 - 2,300 $ 25,420 + $0 $ 4,880 + $ 27,800 $0 $ 55,800 Transaction Description 1. 2. 3. 4. 5. + = + + 2,300 $ 2,300

The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. Assets = Liabilities + Accounts Equity + Accounts Receivable + $0 + Supplies + Land Payable Cash $ 29,000 + -4,800 Common Stock $0 + $ 55,800 + + Revenues $ 3,800 + $ 23,000 = $0 1. 4,800 2. 1,080 +1,080 3. 2,300 4. -1,080 -1,080 5. +2, 300 - 2,300 $ 25,420 + $0 $ 4,880 + $ 27,800 $0 $ 55,800 Transaction Description 1. 2. 3. 4. 5. + = + + 2,300 $ 2,300

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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x M NCC Curre x Quest x Contex bnc An ea x Untitl x New X P wild f x Aal. AOL X New X New X + nheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/que... 13 i Saved Help Save & Exit Check m Exercise 1-13 (Algo) Identifying effects of transactions on the accounting equation LO P1 The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. Assets = Liabilities + Accounts Equity Accounts Receivable + + Supplies $0 + $ 3,800 Cash + $ 29,000 + -4, 800 Land + $ 23,000 4,800 = = Common Stock $ 55,800 + Payable $0 Revenues $0 + 1. + 2. + 1,080 +1,080 3. 2,300 4. -1,080 -1,080 5. +2, 300 + $ 4,880 $0 $ 25,420 + $ 55,800 + $ 2,300 Transaction Description 1. 2. 3. 4. 5. 2,300 2,300 $0 + $ 27,800 = Prev 1 of 1 www www. Next
Transcribed Image Text:x M NCC Curre x Quest x Contex bnc An ea x Untitl x New X P wild f x Aal. AOL X New X New X + nheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/que... 13 i Saved Help Save & Exit Check m Exercise 1-13 (Algo) Identifying effects of transactions on the accounting equation LO P1 The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. Assets = Liabilities + Accounts Equity Accounts Receivable + + Supplies $0 + $ 3,800 Cash + $ 29,000 + -4, 800 Land + $ 23,000 4,800 = = Common Stock $ 55,800 + Payable $0 Revenues $0 + 1. + 2. + 1,080 +1,080 3. 2,300 4. -1,080 -1,080 5. +2, 300 + $ 4,880 $0 $ 25,420 + $ 55,800 + $ 2,300 Transaction Description 1. 2. 3. 4. 5. 2,300 2,300 $0 + $ 27,800 = Prev 1 of 1 www www. Next
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