Transaction (1): Investment by Owner

Business Dec 29, 2021

Transaction (1): Investment by Owner. Andrew Leonid decides to open a computer programming business, which he names Soft byte. On September 1, 2017, he invests $15,000 cash in the business, which he deposits in a bank account opened under the name of Soft byte. 2. Transaction (2): Soft byte purchases computer equipment for $7,000 cash. This transaction results in an equal increase and decrease in total assets, though the composition of the assets changes