Question

= Send to Gradebook < Prev Next > Question 4 -15 View Policies View Policies Current Attempt in Progress During 2017, its first year of operations as a delivery service, Pina Colada Corp.entered into the following transactions. aport 3 1. Issued shares of common stock to investors in exchange for $149.000 In cash. 2. Borrowed $48,000 by issuing bonds. Purchased delivery trucks for $68,000 cash. Received 516,000 from customers for services performed. Purchased supplies for $4,000 on account. Paid rent of $4.700. z Performed services on account for $10.800. & Pald salaries of $27.400. 9. Paida dividend of $11.100 to shareholders. 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, Liabilities or Stockholders'Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced, sellustration 3-3 for example 2237 PM AdA/122 OR arch

Answer 1

	Assets				Liabilities		Stockholders' Equity
	Cash	Accounts Receivable	Supplies	Equipment	Accounts Payable	Bonds Payable	Common Stock	Retained Earnings
								Revenues	Expenses	Dividends
1	149000						149000				Issued stock
2	48000					48000
3	-68000			68000
4	16000							16000			Service Revenue
5			4000		4000
6	-4700								-4700		Rent expense
7		10800						10800			Service Revenue
8	-27400								-27400		Salaries and wages expense
9	-11100									-11100	Dividends
	101800	10800	4000	68000	4000	48000	149000	26800	-32100	-11100