Matrix Homes was organized on January 1, 2021 and had the account balances at January 31, listed in tabular form: Cash + Equipment + Building + Land + Vehicle= A/P + N/P + Owner’s Equity $42,000 $55,000 $165,000 $180,000 $15,000 = $35,000 95000 327,000 Early in February, the following transactions were carried out by Matrix Homes: Purchased several laptops on account for $22,000 (60 days open account). Sold additional stock to owners for $75,000. Purchases land and office building for a total price of $95,000, of which $45,000 was the value of the land and $50,000 was the value of the building. Paid $32,000 in cash and signed a note payable for the remaining balance $63,000. Cash withdraw from business for personal use $5000 (Drawings). Money borrowed from HBL in the amount of $25,000. Signed a note payable. Paid the $25,000 accounts payable due as of January 31. Paid the $20,000 notes payable as of January 31. Instructions: Prepare the accounting equation on February 28th, 2021
Matrix Homes was organized on January 1, 2021 and had the account balances at January 31, listed in tabular form:
Cash + Equipment + Building + Land + Vehicle= A/P + N/P + Owner’s Equity
$42,000 $55,000 $165,000 $180,000 $15,000 = $35,000 95000 327,000
Early in February, the following transactions were carried out by Matrix Homes:
Purchased several laptops on account for $22,000 (60 days open account).
Sold additional stock to owners for $75,000.
Purchases land and office building for a total price of $95,000, of which $45,000 was the value of the land and $50,000 was the value of the building. Paid $32,000 in cash and signed a note payable for the remaining balance $63,000.
Cash withdraw from business for personal use $5000 (Drawings).
Money borrowed from HBL in the amount of $25,000. Signed a note payable.
Paid the $25,000 accounts payable due as of January 31.
Paid the $20,000 notes payable as of January 31.
Instructions: Prepare the
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