Problem
Asset.
For each of the following transactions of a cash-basis business, analyze the transaction with the horizontal model in the cash column indicate whether the item is a financing, investing, or operating activity.
The transactions occured during august of 2022. Make sure you include your beginning balances in your totals
• Issued stock for $38,000 cash and $3,500 of equipment.
• Paid $1,750 for cleaning services for this month
• Paid $6,500 for supplies.
• Bought $110,000 of equipment by paying $15,000 cash down and signing a notes payable for the remaining amount.
• Performed consulting services for $30,000 cash.
• Borrowed $25,000 from First National Bank.
• Paid $8,000 for salaries of employees for this month.
• Paid $18,000 for 9 months of rent. Make sure you read the red note above.
• Paid a $2,500 dividend to the shareholders.
• Repaid $6,000 of the bank loan.
• Bought $1,500 of supplies using accounts payable
What is the total for owner's equity?