Required informationSkip to question [The following information applies to the questions displayed below.]Precision Construction entered into the following transactions during a recent year. January 2Purchased a bulldozer for $254,000 by paying $22,000 cash and signing a $232,000 note due in five years.January 3Replaced the steel tracks on the bulldozer at a cost of $22,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency.January 30Wrote a check for the amount owed on account for the work completed on January 3.February 1Repaired the leather seat on the bulldozer and wrote a check for the full $1,000 cost.March 1Paid $4,800 cash for the rights to use computer software for a two-year period. Required:1-a. Complete the table below, for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) DateJanuary 02January 02January 03January 30February 01March 01March 01AssetsLiabilities++++Stockholders' Equity

Step 1: Introduction to accounting equationAccounting equation refers to that equation which…

Answered: Date January 02 January 02 January 03…

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 33DQ

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[The following information applies to the questions displayed below.]

Precision Construction entered into the following transactions during a recent year.

January 2	Purchased a bulldozer for $254,000 by paying $22,000 cash and signing a $232,000 note due in five years.
January 3	Replaced the steel tracks on the bulldozer at a cost of $22,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency.
January 30	Wrote a check for the amount owed on account for the work completed on January 3.
February 1	Repaired the leather seat on the bulldozer and wrote a check for the full $1,000 cost.
March 1	Paid $4,800 cash for the rights to use computer software for a two-year period.

Required:

1-a. Complete the table below, for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)