Based on the Following List of Transactions, Indicate Their Effect

Essay

Based on the following list of transactions, indicate their effect on Divine Dogs assets, liabilities and equity for his one month of operations.
A. Divine buys a cooler and a George Foreman grill for $1,200 cash.
B. Divine takes out a loan for $3,200.
C. Divine buys 600 hot dogs at $0.50 each, 500 buns at $0.20 each, 800 cans of soft drinks at $0.50 each and a huge bottle of ketchup for $50.
D. Divine sells 160 hot dog / drink combos for $8 each.
E. Divine records the product cost for the sales in (D) above, including ketchup, at $1.50 each.
F. Divine pays his hot dog salesmen $800 for the month.
G. Divine pays $80 of his loan.