ohn Sullivan started a business. During the first month (February 20--), the following transactions occurred. Show the effect of each transaction on the accounting equation: Assets = Liabilities + Owner's Equity. After each transaction, show the new totals. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not require an entry, leave it blank. Assets = Liabilities + Owner's Equity a. Invested cash in the business, $29,000. fill in the blank 1 fill in the blank 2 fill in the blank 3 Bal. fill in the blank 4 fill in the blank 5 fill in the blank 6

ohn Sullivan started a business. During the first month (February 20--), the following transactions occurred. Show the effect of each transaction on the accounting equation: Assets = Liabilities + Owner's Equity. After each transaction, show the new totals. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not require an entry, leave it blank. Assets = Liabilities + Owner's Equity a. Invested cash in the business, $29,000. fill in the blank 1 fill in the blank 2 fill in the blank 3 Bal. fill in the blank 4 fill in the blank 5 fill in the blank 6

Name: John Sullivan started a business. During the first month (February 20-
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Description: John Sullivan started a business. During the first month (February 20--), the following transactions occurred. Show the effect of each transaction on the accounting equation: Assets = Liabilities + Owner's Equity. After each transaction, show the new

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 1CP

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Assets	=	+
a. Invested cash in the business, $29,000.
	fill in the blank 1	fill in the blank 2	fill in the blank 3
Bal.	fill in the blank 4	fill in the blank 5	fill in the blank 6

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