Pandey Inc

Essay

Pandey Inc.had the following activities during the month:
A.Borrowed $7,000,000 cash,signing a promissory note.
B.Bought a building for $800,000,paying $200,000 in cash and signing a promissory note for $600,000.
C.Rented equipment at a cost of $10,000 per month and issued a check covering six months' rent.
D.Provided $104,000 of services and billed customers.
E.Purchased $30,000 of supplies on account.
F.Received a utility bill for the current period in the amount of $1,200.
G.Raised sales prices on 200 units from $400 per unit to $440 per unit.
H.Received a 50% deposit from a customer on a $20,000 order to be filled next month.
Required:
Analyze each of the activities (A)through (H)above with the goal of indicating their effects on the basic accounting equation by completing the table below.Indicate the accounts and amounts involved.Include a plus (+)or minus (−)sign before each number to show its effect on the accounting equation.If the activity should not to be recorded as a transaction,enter the word "None" in the first column for that activity.
$$\begin{array} { | l | l | l | l | l | l | l | } \hline & { \text { Assets } } && { \text { Liabilities } } &&{ \text { Stockholders' Equity } } \\\hline & \text { Account(s) } & \text { Amount } & \text { Account(s) } & \text { Amount } & \text { Account(s) } & \text { Amount } \\\hline \text { A } & & & & & & \\\hline \text { B } & & & & & & \\\hline \text { C } & & & & & & \\\hline \text { D } & & & & & & \\\hline \text { E } & & & & & & \\\hline \text { F } & & & & & & \\\hline \text { G } & & & & & & \\\hline \text { H } & & & & & & \\\hline\end{array}$$