For Each of the Following Transactions for a Corporation,identify the Effects

question 60

Essay

For each of the following transactions for a corporation,identify the effects on the accounting equation.Use "+" to indicate an increase and "-" to indicate a decrease.Use "A","L" and "E" to indicate assets,liabilities and equity,respectively.Part A has been completed as an example.
$$\begin{array} { | l | l | l | l | } \hline \text { a. } & \begin{array} { l } \text { L. Berryman invested } \$ 100,000 \text { in the } \\\text { new corporation in exchange for stock }\end{array} & + \mathrm { A } & + \mathrm { E } \\\hline \text { b. } & \begin{array} { l } \text { Land was purchased for } \$ 50,000 . \text { A } \\\text { down payment of } \$ 15,000 \text { cash was } \\\text { made and a note was signed for the } \\\text { balance. }\end{array} & & \\\hline \text { c. } & \begin{array} { l } \text { Services were rendered to customers } \\\text { for cash. }\end{array} & & \\\hline \text { d. } & \text { A building was purchased for cash. } & & \\\hline \text { e. } & \text { Supplies were purchased for cash. } & & \\\hline \text { f. } & \text { Paid the office secretary's salary. } & & \\\hline \text { g. } & \begin{array} { l } \text { The amount owed on the land from } \\\text { part (b) was paid. }\end{array} & & \\\hline\end{array}$$

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