1 answer

HHENT RE SOURCES xercise 3-3 During 2017, Cullumber Company entered into the following transactions. 1. Purchased...

Question:

HHENT RE SOURCES xercise 3-3 During 2017, Cullumber Company entered into the following transactions. 1. Purchased equipment for $334,720 cash. 2. Issued common stock to investors for $139,950 cash. 3. Purchased inventory of $68,130 on account using the following tabular analysis, show the effect of each transaction on the t necessary. (tl a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in frent of the amount eatered for accounting equation. For Retained Eamings, use separate columns for Revenues, Expenses, and Dividends the particular Asset tiability or Equity item that was reduced. See Wustration 3-3 for example.) Stockholders Equity Cash InventoryEquipment Accounts Payable + Common Stock +Retained Earnings INTERACTEW TUTORIAL
HHENT RE SOURCES xercise 3-3 During 2017, Cullumber Company entered into the following transactions. 1. Purchased equipment for $334,720 cash. 2. Issued common stock to investors for $139,950 cash. 3. Purchased inventory of $68,130 on account using the following tabular analysis, show the effect of each transaction on the t necessary. (tl a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in frent of the amount eatered for accounting equation. For Retained Eamings, use separate columns for Revenues, Expenses, and Dividends the particular Asset tiability or Equity item that was reduced. See Wustration 3-3 for example.) Stockholders Equity Cash InventoryEquipment Accounts Payable + Common Stock +Retained Earnings INTERACTEW TUTORIAL

Answers

Answer

Cash Inventory Equipment Accounts Payable Common Stock Retained earnings
1 ($334,720) $334,720
2 $139,950 $139,950
3 $68,130 $68,130
.

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