betty sullivan decided to open betty's dog grooming center. Betty completed the following transaction
[list]
a) invested $ 19,000 cash from her personal bank account into the business
b) bought equipment for cash $ 3,000
c) bought additional equipment on account, $2,000
d) paid #300 cash to partially reduce what was owed from transactionc.

based on this information, record these transactions into the basic accounting equation

Quote:

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Originally Posted by Sahar_sunstar

Betty Sullivan decided to open Betty's Dog Grooming Center. Betty completed the following transaction
[LIST]
A) INVESTED $ 19,000 CASH FROM HER PERSONAL BANK ACCOUNT INTO THE BUSINESS
B) BOUGHT EQUIPMENT FOR CASH $ 3,000
C) BOUGHT ADDITIONAL EQUIPMENT ON ACCOUNT, $2,000
D) PAID #300 CASH TO PARTIALLY REDUCE WHAT WAS OWED FROM TRANSACTIONC.

BASED ON THIS INFORMATION, RECORD THESE TRANSACTIONS INTO THE BASIC ACCOUNTING EQUATION

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A. cash 19000
Owner capital 19000

B. equipment 3000
cash 3000

C. equipment 2000
Account payable 2000

D. Account payable 300
cash 300


Assets = Liabilities + Equity
20700 = 1700 + 19000

Asset Liabilities Owners Equity
Cash Equipments Account payable
A.$19,000 A. $19,000 B.-$3,000 B. $3,000
C. $2,000 C. $2,000
D.-$300 D. -$300

=15,700+5,000= (20,700) 1,700 + 19,000=(20,700)
Asset=Liabilities+Owners Equity
20,700= 20,700