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    D.C. Dawg started a business, Cats and Dogs Company: Show how each action impacts the accounting equation

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    D.C. Dawg started a business, Cats and Dogs Company, by contributing $6,000.

    The Cats and Dogs Company borrowed $2,000 from the bank on March 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on February 28 of next year.

    The company earned $900 in revenue.
    Expenses amounted to $650.
    Distributions to owners amounted to $25.

    You are to complete the following tasks:

    Show how each affects the accounting equation.
    Give one additional piece of information related to the transaction that could be recorded in an information system for a purpose other than the financial statements.
    Prepare the four basic financial statements for the month of March.

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    https://brainmass.com/business/accounting/104954

    Solution Preview

    Please see the attached file.

    1 Sheet 1-Analysis: It covers complete analysis of transaction in a work spreadsheet form showing how each ...

    $2.19

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