Question

Current Attempt in Progress During 2022, its first year of operations as a delivery service, Bramble Corp, entered into the following transactions. 1. 2. 3. 4. 5. Issued shares of common stock to investors in exchange for $145,000 in cash. Borrowed $48,000 by issuing bonds. Purchased delivery trucks for $54.000 cash. Received $16,000 from customers for services performed Purchased supplies for $4,300 on account. Paid rent of $4,800 Performed services on account for $11,600. Paid salaries of $27,200. Paid a dividend of $10,000 to shareholders. 6. 7. 8. 9. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the far right column. (If a transaction causes a decrease in Assets. Llabilitiae arcu

Answer 1

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Sr.No Assets Accounts Receivables Cash Supplies - Equipment Liabilities Stockholders' Equity Accounts Payable + Bonds Payable + Common Stock Retained Earnings + Revenues - Expenses - Dividends 145000 48000 + 1 2 + 145000 48000 -54000 16000 3 + 54000 4 + 16000 ||| ||| ||| | 5 + 4300 4300 + 6 -4800 4800 7 11600 + 11600 8 -27200+ + 27200 + 9 -10000 Total 113000 + 10000 10000 11600 + 4300 54000 4300 48000 145000 27600 32000