Business
Business, 09.04.2021 04:10, Buddy01

During 2022, Crane Company entered into the following transactions. 1. Purchased equipment for $310,720 cash.
2. Issued common stock to investors for $138,050 cash.
3. Purchased inventory of $68,620 on account.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the right-hand margin.
Assets = Liabilities + Stockholders' Equity
Cash + Inventory + Equipment = Accounts Payable + Common Stock + Retained
Earnings
(1)
(2)
(3)

answer
Answers: 1

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During 2022, Crane Company entered into the following transactions. 1. Purchased equipment for $310...

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