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  1. business
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  3. $1,500 18. apple tree had the following balances w

$1,500 18. Apple Tree had the following balances when formed: Assets Liabilities Cash $2,400 Notes...

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Accounting

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$1,500 18. Apple Tree had the following balances when formed: Assets Liabilities Cash $2,400 Notes payable Equipment 1,300 Owner's Equity Johnny, capital Total assets $3,700 Total liabilities and owner's equity 2,200 53,700 During the first year of operations, the following transactions occurred: Collected $12.000 cash in rental revenue Made a $2,000 investment in equity securities using $1,000 cash and a $1,000 note payable. Incurred and paid $2,000 in cash for utilities expense, $3,500 in rent expense, and $2,200 in wages expense. Johnny, Apple Tree's owner, withdrew $200 in cash from the business and contributed $1,500 in equipment. Show the cumulative effect on the accounting equation from the transactions for the year

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