Answered Essay: The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,030 sh

The following events occurred for Johnson Company b. Purchased $7,300 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. C. Borrowed $15,000 cash from a bank. d. Loaned $1,100 to an employee who signed a note e. Purchased $24,458 of land; paid $6,000 in cash and signed a mortgage note for the balance. Required: For each o the events a through e per orm transaction analysis and indicate the account, amount and direction o he e ec accounting equation remains in balance after each transaction. (If no impact on accounting equation leave cells blank.) ·for increase and for decrease on the accounting equation heck hat he Transaction Assets Liabilities Stockholders Equity a. b. C. d. e.

The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,030 shares of $1 par value common stock with a market price of $20 per share. b. Purchased $7,300 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $15,000 cash from a bank. d. Loaned $1,100 to an employee who signed a note. e. Purchased $24,458 of land: paid $6,000 in cash and signed a mortgage note for the balance. For each of the events (a) through (e), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and – for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. (If no impact on accounting equation leave cells blank.)

Expert Answer

 

ANSWER:

Assets = Liabilities + Stockholders’ Equity
a.
Cash 20600 Common Stock 1030
Additional paid in capital 19570
b. Equipment 7,300 Notes Payable 5,900
Cash -1400
c.
Cash 15,000 Notes Payable 15,000
d. Note receivable 1,100
Cash -1,100
e. Land 24,458 Mortgage Notes Payable 18,458
Cash -6,000
Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

STEP 1

Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

STEP 2

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

STEP 3

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.

STEP 4

Receive your Paper

After Editing, your paper will be sent to you via email.

× How can I help you?