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Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than 200 locations worldwide. The following is adapted from Shake Shacks financial statements for the quarter ended June 26, 2019. Dollars are reported in millions.

Accounts Payable	$ 38
Accounts Receivable	14
Cash	29
Common Stock	255
Equipment	544
Intangible Assets	267
Inventory	2
Notes Payable (long-term)	519
Notes Payable (short-term)	40
Prepaid Rent	6
Retained Earnings	46
Short-Term Investments	36

Assume that the following events occurred in the following quarter, which ended September 26, 2019.

a. Paid $10 cash for additional intangible assets.

b. Issued additional shares of common stock for $50 in cash.

c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70.

d. Paid $9 cash for accounts payable owed at September 26.

e. Conducted negotiations to purchase a farm, which is expected to cost $15.

4. Summarize the journal entry effects from part 3 using T-accounts. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

\begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Cash } \\ \hline \multicolumn{2}{|c|}{ Debit } & \multicolumn{2}{c|}{ Credit } \\ \hline Beginning Balance & & & \\ \hline b. & & & \\ \hline \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular}

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