Answered Essay: Summarize the financial effects of items (a)-(e) in a table. (Enter any decreases to account balances with a minus sign.) Sto

Assume down.com was organized on May 1 to compete with despair.com-A company that sells D motivational posters on office products. Following events occurred during the first month of down.com’s operation.

A) Received $48,000 cash from the investors who organized down.com corporation.
B) borrowed $15,000 cash and signed a note due in two years.
C) ordered equipment costing $16,000.
D) purchase $6000 in equipment paying $4000 in cash and signing a six month note for the balance.
E) received the equipment order in (c) paid for half of it, and put the rest on account.
. Summarize the financial effects of items (a)-(e) in a table. (Enter any decreases to account balances with a minus sign.) Stockholders Assets Liabilities -Equity Accounts ST NotesLT Notes Payable Payable Payable Common Stock Cash Equipment Beg a. b. c. d. e. End. 0 0 0
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. Summarize the financial effects of items (a)-(e) in a table. (Enter any decreases to account balances with a minus sign.) Stockholders Assets Liabilities -Equity Accounts ST NotesLT Notes Payable Payable Payable Common Stock Cash Equipment Beg a. b. c. d. e. End. 0 0 0

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