Question

I am missing something in four problems. See # 1 1800

The following event occurs for Johnson Company

1. Received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share.
2. Purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable manufufactures.
3. Borrowed $10, 000 cash from bank.
4. Loaned $800 to an employee who signed a note.
5. Purchased $13,000 of land: paid $4,000 in cash and signed a mortgage note for the balanc

Required

For each of the events (a) through(e). perform transaction analysis and indicate the account, amount and indicate the account and direction of the (+ for increase and -for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction.

Note the answer on website is also missing something.

Answer 1

	Asset		=	Liabilities		+	Stockholder's Equity
a.	Cash	$ 40,000	=			+	Common Stock	$   1,000
							Additional Paid - in - capital - Common Stock	$ 39,000
b.	Equipment	$ 15,000	=	Accounts payable	$   12,000	+
	Cash	$ -3,000
c.	Cash	$ 10,000	=	Bank Loan	$   10,000	+
d.	Notes receivable	$       800	=			+
	Cash	$     -800
e.	Land	$ 13,000	=	Notes payable	$     9,000	+
	Cash	$ -4,000	=			+

Answer 2

 Answer is complete and correct.