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Homework answers / question archive / Analyze each of the following transactions by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or —) for each

Analyze each of the following transactions by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or —) for each

Accounting

Analyze each of the following transactions by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or —) for each. 
January 1 Purchased equipment for $25,000 cash. Estimated useful life is six years and salvage value is $6,000. January 2 Paid $5,000 cash to install automated controls on equipment. This betterment did not impact useful life or salvage value. August 15 Paid $200 cash for minor repair costs to equipment. 
Date January 01 January 01 
January 02 January 02 August 15 
Assets 
Liabilities 

Prey 
1 of 7 EH 

 

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