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Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.
1. Borrow $52,000 from a bank
2. Purchase equipment for $48,000 in cash
3. Issue $85,000 in stock
4. Buy $15,000 worth of manufacturing supplies on credit
5. Receive payment of $10,000 owed by a customer
6. Pay $7,000 owed to a supplier
7. Receive payment of $11,000 owed by a customer
What is the net change in Total Assets?
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