Pandey Inc. had the following activities during the month:A. Borrowed $7,000,000 cash, signing a promissory note. B. Bought a building for $800,000, paying $200,000 in cash and signing a promissory note for $600,000. C. Rented equipment at a cost of $10,000 per month and issued a check covering six months' rent. D. Provided $104,000 of services and billed customers. E. Purchased $30,000 of supplies on account. F. Received a utility bill for the current period in the amount of $1,200. G. Raised sales prices on 200 units from $400 per unit to $440 per unit. H. Received a 50% deposit from a customer on a $20,000 order to be filled next month. Required:Analyze each of the activities (A) through (H) above with the goal of indicating their effects on the basic accounting equation by
completing the table below. Indicate the accounts and amounts involved. Include a plus (+) or minus (?) sign before each number to show its effect on the accounting equation. If the activity should not to be recorded as a transaction, enter the word "None" in the first column for that activity. ?AssetsLiabilitiesStockholders' Equity?Account(s)AmountAccount(s)AmountAccount(s)AmountA??????B??????C??????D??????E??????F??????G??????H??????
What will be an ideal response?
| ? | Assets | Liabilities | Stockholders' Equity | |||
| ? | Account(s) | Amount | Account(s) | Amount | Account(s) | Amount |
| A | Cash | +7,000,000 | Notes Payable | +7,000,000 | ? | ? |
| B | Buildings Cash | +800,000 ?200,000 | Notes Payable | +600,000 | ? | ? |
| C | Cash Prepaid Rent | ?60,000 +60,000 ? | ? | ? | ? | ? |
| D | Accounts Receivable | +104,000 ? | ? | ? | Service Revenue | +104,000 ? |
| E | Supplies | +30,000 | Accounts Payable | +30,000 | ? | ? |
| F | ? | ? | Accounts Payable | +1,200 | Utilities Expense | +1,200 |
| G | None ? | ? | ? | ? | ? | ? |
| H | Cash | +10,000 | Deferred Revenue | +10,000 | ? | ? |
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