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14. Transaction Analysis: For each of the following transactions of Comet Company for the month...

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Accounting

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14. Transaction Analysis: For each of the following transactions of Comet Company for the month of January, indicate the accounts, the amounts, and the direction of the effects on the accounting equation. A sample is provided. a) (Sample) Comet Company purchases inventory from a wholesale distributor for $500 cash. b) Comet Company receives $1,000 from investors in exchange for stock. c) Comet Company purchases equipment worth $1,200. It pays $500 in cash at the time of sale, and puts the remainder on account. d) Comet Company receives $100 in cash for services that it has not yet performed (e.g., it has not yet satisfied the performance obligation). (A sample answer for part a is shown below. Please use similar formatting in your own answer and be sure to show the effect of every transaction on Assets, Liabilities, and Shareholder's Equity (please use "+" or "_-" to indicate whether a given account balance went up or down.) TIP: The easiest way to answer the question is to copy the table below and paste it into the answer box in the online homework. You can then manuallv complete the table for parts b. c and d

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