Ask Question
29 January, 10:57

Jones Enterprises was started when it acquired $3,900 cash from creditors and $9,100 from owners. The company immediately purchased land that cost $11,000.

Required:

Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.)

+3
Answers (1)
  1. 29 January, 14:09
    0
    The accounting equation is presented below:

    Assets = Liabilities + Stockholders equity

    Cash + Land = Account payable

    1. $13,000 + $0 = $3,900 + $9,100

    2. - $11,000 + $11,000 = $0 + $0

    Total $2,000 + $11,000 = $3,900 + $9,100
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jones Enterprises was started when it acquired $3,900 cash from creditors and $9,100 from owners. The company immediately purchased land ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers