Selected transactions for Speedy Lawn Care Company, Inc., are listed here:

. Issued common stock to investors in exchange for cash received from investors.

. Paid monthly rent.

. Received cash from customers when service was rendered.

Billed customers for services performed.

Paid dividend to stockholders.

. Incurred advertising expense on account.

. Received cash from customers billed in (4).

. Purchased additional equipment for cash.

OONDUARWNE . Purchased equipment on account.

Instructions Describe the effect of each transaction on assets, liabilities, and stockholders’ equity. For example, the first answer is: (1) Increase in assets and increase in stockholders’ equity.