Enter each transaction into the accounting equation and identify its increase or decrease to assets, liabilities, shareholder€™s equity, revenues, or expenses of Green Trees & Lawn Corp.
1. Green Trees & Lawn earned and collected the cash for $15,000 in service revenues.
2. The business paid $2,000 cash for supplies.
3. Green Trees & Lawn paid $1,500 of a $4,000 note payable to creditors.
4. The company paid $1,100 for rent expense.
5. The company€™s owner provided $7,500 in additional financing in exchange for common stock.
6. The business declared and paid $2,100 in dividends.
7. Green Trees & Lawn loaned $2,225 cash to another company.
Use the followingformat:

Transcribed Image Text:

Shareholder's equity TotalTota assets ContributedRetained earnings liabilities capital Transaction 1