Mackenzie Arsen decided to open Mackenzie's Nail Spa. Mackenzie completed the following transactions:
AInvested $ 23,000 cash from her personal bank account into the business.
BBought store equipment for cash, $ 4,100.
CBought additional store equipment on account, $ 6,400.
DPaid $ 500 cash to partially reduce what was owed from Transaction C.
Based on this information, record these transactions into the basic accounting equation. Keep a running balance.Transaction lines are identified by the corresponding transaction letter (A., B, etc.). If the net effect of a transaction on an account categorylong dashAssets, Liabilities, or Owner's Equitylong dash is $0, leave the cell blank, do not enter a "0". Beginning with transaction B., calculate the ending balances on the "Bal." line for applicable account categories that have a non-zero balance.
Assets = Liabilities + Owner's Equity
Cash + Store Equipment = Accounts Payable + M. Arsen, Capital
AInvested $ 23,000 cash from her personal bank account into the business.
BBought store equipment for cash, $ 4,100.
CBought additional store equipment on account, $ 6,400.
DPaid $ 500 cash to partially reduce what was owed from Transaction C.
Assets = Liabilities + Owner's Equity
Cash + Store Equipment = Accounts Payable + M. Arsen, Capital