Tucker Company shows the following transactions for the accounting period ending December 31,2016:
1)Sold books to customers for $68,000 on account
2)Collected $56,000 from customers
3)Issued common stock for $16,000 cash
4)Prepaid four months' rent for $8,800 on October 1,2016
5)Purchased supplies for $21,000 cash
6)Physical count shows $6,500 of supplies remained on December 31,2016
7)Recorded adjustment for prepaid rent used
Show how the above transactions and year-end adjustments affect the accounting equation.Precede the amount with a minus sign if the transaction reduces that section of the equation.Enter 0 for items not affected.

Question

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The Answer of Tucker Company shows the following transactions for the accounting period ending December 31,2016:
1)Sold books to customers for $68,000 on account
2)Collected $56,000 from customers
3)Issued common stock for $16,000 cash
4)Prepaid four months' rent for $8,800 on October 1,2016
5)Purchased supplies for $21,000 cash
6)Physical count shows $6,500 of supplies remained on December 31,2016
7)Recorded adjustment for prepaid rent used
Show how the above transactions and year-end adjustments affect the accounting equation.Precede the amount with a minus sign if the transaction reduces that section of the equation.Enter 0 for items not affected.

Tucker Company Shows the Following Transactions for the Accounting Period