Performance plastics company (ppc) has been operating for three years. the beginning account balances are
Cash $ 35,000,
Account 5,000
Inventory 40,000
Notes (3-year expiration) 2,000
Equipment 80,000
Land 30,000
Profit Paid 50,000
a. Paid $5,000 in cash and signed a bond for the rest of his two years.
B Issued additional 2,000 shares of common stock for $20,000 in cash.
c. You borrow $50,000 in cash from your local bank and pay it off on June 30th two years later.
d. Purchased $4,000 of consumables in cash. He added $41,000 to the
factory building. Paid $12,000 in cash and signed bonds for the rest of his three years.
f. A new president will be appointed from January 1 of next year. The contract was $95,000 for him for one year of service.
Required: Analyze the
transaction to determine its impact on the accounting equation.
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