Business, 17.06.2020 19:57 tania911

Below is a list of activities for Vikings Incorporated. Required:
For each activity, indicate the impact on the accounting equation. After doing all the transactions, ensure that the accounting equation remains in balance. The first item is provided as an example.
Transaction Assets * Liabilities * Stock
holder
Equity
1. Issue common stock in exchange for cash, $15,000 $15,000 $15,000
2. Obtain a loan from the bank for $9.000
3. Receive cash of $1,200 in advance from customers.
4. Purchase supplies on account, $2.400
5. Pay one year of rent in advance $12,000
6. Provide services to customers on account, $3,000
7. Repay $4,000 of the loan in (2) above.
8. Pay the amount for supplies purchased in (4) above.
9. Provide services to customers in (3) above
10. Pay cash dividends of $1,000 to stockholders
Totals

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Below is a list of activities for Vikings Incorporated. Required:
For each activity, indicat...

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