Homework Answers
Answer :-
1. Issued common stock to investors in exchange for cash received from investors = Increase in assets and increase in stockholders equity
2. Paid monthly rent = Decrease in assets and decrease in stockholders equity
3. Received cash from customers when service was performed = Increase in assets and increase in stockholders equity
4. Billed customers for services performed = Increase in assets and Increase in stockholders equity
5. Paid dividend to stockholders = decrease in assets and decrease in stockholders equity
6. Incurred advertising expense on account = Increase in liabilities and decrease in stockholders equity
7. Received cash from customers billed in (4) = Increase in assets and decrease in assets
8. Purchased additional equipment for cash = Increase in assets and decrease in assets
9. Purchased equipment on account = Increase in assets and increase in liabilities
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