The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. 1. 2. 3. 4. 5. Cash + $ 23,000 + -4,200 + -1,020 +2,000 $ 19,780 + Transaction 1. 2. 3. 4. 5. Assets Accounts Receivable + Supplies + Land $0 + $3,200 + $ 20,000 = 4,200 + 2,000 2,000 $0 + + 1,020 $ 4,220 = Liabilities + Accounts Common Payable + Stock $0 Description + $ 24,200 = +1,020 -1,020 Equity + + Revenues + $46,200 + + $ 46,200 + 2,000 $2,000

The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Match each transaction with its probable description. 1. 2. 3. 4. 5. Cash + $ 23,000 + -4,200 + -1,020 +2,000 $ 19,780 + Transaction 1. 2. 3. 4. 5. Assets Accounts Receivable + Supplies + Land $0 + $3,200 + $ 20,000 = 4,200 + 2,000 2,000 $0 + + 1,020 $ 4,220 = Liabilities + Accounts Common Payable + Stock $0 Description + $ 24,200 = +1,020 -1,020 Equity + + Revenues + $46,200 + + $ 46,200 + 2,000 $2,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 5MC

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