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Analyze each of the following transactions by showing its effects on the accounting equation-specifically, identify...

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Accounting

Analyze each of the following transactions by showing its effects on the accounting equation-specifically, identify the accounts and
amounts (including + or -) for each.
January 1 Purchased equipment for $44,000 cash. Estimated useful life is six years and salvage value is $10,560.
January 2 Paid $8,800 cash to install automated controls on equipment. This betterment did not impact useful life or
salvage value.
August 15 Paid $350 cash for minor repair costs to equipment.
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