During 2 0 2 7 , its first year of operations as a delivery service, Marin Corp.
Question:
During its first year of operations as a delivery service, Marin Corp. entered into the following transactions.
Issued shares of common stock to investors in exchange for $ in cash.
Borrowed $ by issuing a note.
Purchased delivery trucks for $ cash.
Performed services for customers for $ cash.
Purchased supplies for $ on account.
Paid rent of $
Performed services on account for $
Paid salaries of $
Paid a dividend of $ to shareholders.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for revenues or expenses in the righthand margin.
Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.
Increases in expenses require a negative sign or parentheses.
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso