Assets Liabilities + Equity + Office Supplies $ 21,000 + $ 0 + $3,000 Cash + Accounts + Revenues Mulan, Capital + $19,000 = $0 + $43,000 Land Accounts Receivable Payable + $ 0 – 1. – 4,000 4,000 + 2. 1,000 +1,000 3. 1,900 1,900 4. 1,000 - 1,000 5. + 1,900 $ 17,900 1,900 + $ $4,000 $23,000 $ $43,000 + $1,900 Identify the explanation from a through j below that best describes each transaction 1 through 5 and enter it in the blank space in front of each numbered transaction. a. The company purchased $1,000 of office supplies on credit. b. The company collected $1,900 cash from an account receivable. c. The company sold land for $4,000 cash. d. The owner withdrew $1,000 cash from the business. e. The company purchased office supplies for $1,000 cash. f. The company purchased land for $4,000 cash. g. The company billed a client $1,900 for services provided. h. The company paid $1,000 cash toward an account payable. i. The owner invested $1,900 cash in the business. j. The company sold office supplies for $1,900 on credit.

Assets Liabilities + Equity + Office Supplies $ 21,000 + $ 0 + $3,000 Cash + Accounts + Revenues Mulan, Capital + $19,000 = $0 + $43,000 Land Accounts Receivable Payable + $ 0 – 1. – 4,000 4,000 + 2. 1,000 +1,000 3. 1,900 1,900 4. 1,000 - 1,000 5. + 1,900 $ 17,900 1,900 + $ $4,000 $23,000 $ $43,000 + $1,900 Identify the explanation from a through j below that best describes each transaction 1 through 5 and enter it in the blank space in front of each numbered transaction. a. The company purchased $1,000 of office supplies on credit. b. The company collected $1,900 cash from an account receivable. c. The company sold land for $4,000 cash. d. The owner withdrew $1,000 cash from the business. e. The company purchased office supplies for $1,000 cash. f. The company purchased land for $4,000 cash. g. The company billed a client $1,900 for services provided. h. The company paid $1,000 cash toward an account payable. i. The owner invested $1,900 cash in the business. j. The company sold office supplies for $1,900 on credit.

Name: The following table shows the effects of transactions 1 through 5 on t
Uploaded: 2024-03-04T10:43:15.000Z
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Description: The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan’s Boutique. AssetsLiabilities +Equity+ OfficeSupplies$ 21,000 + $ 0 + $3,000Cash+ Accounts+ RevenuesMulan,Capital+ $19,000 = $0 + $43,00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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