Question

Laludo Transactions The selected transactions below were completed by Cota Delivery Service during July: Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list: a. Increase in an asset, decrease in another asset. b. Increase in an asset, Increase in a liability. c. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity. 1. Received cash in exchange for common stock, $35,000. 2. Purchased supplies for cash, $1,100. 3. Paid rent for Oltober, $4,500. 4. Paid advertising expense, $900. 5. Received cash for providing delivery services, $33,000. 6. Billed customers for delivery services on account, $58,000. 7. Paid creditors on account, $2,900. 8. Received cash from customers on account, $27,500. < Previous Next > Check My Work Save and Edt Submit Assignment for Grading All work saved.

Answer 1

1	Increase in an asset , increase in stockholder's equity
2	Increase in an asset , decrease in another asset
3	Decrease in an asset, decrease in stockholder's Equity
4	Decrease in an asset, decrease in stockholder's Equity
5	Increase in an asset , increase in stockholder's equity
6	Increase in an asset , increase in stockholder's equity
7	Decrease in an asset, decrease in a liability.
8	Increase in an asset , decrease in another asset
9	Decrease in an asset, decrease in stockholder's Equity
10	Decrease in an asset, decrease in stockholder's Equity