1) Select from the activities of Jayhawk Corporation whether the transaction increases, decreases, or has no effect on assets, liabilities, and stockholders' equity. The first item is provided as an example.

2) Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred.

July	3		Jake provides lawn services to Lukes repair shop on account, $500.
July	6		One of Jakes mowers malfunctions. Luke provides repair services to Jake on account, $450.
July	9		Luke pays $500 to Jake for lawn services provided on July 3.
July	14		Luke borrows $600 from Jake by signing a note.
July	18		Jake purchases advertising in a local newspaper for the remainder of July and pays cash, $110.
July	20		Jake pays $450 to Luke for services provided on July 6.
July	27		Luke performs repair services for other customers for cash, $800.
July	30		Luke pays employee salaries for the month, $300.
July	31		Luke pays $600 to Jake for money borrowed on July 14.

Required: Select from the activities of Jayhawk Corporation whether the transaction increases, decreases, or has no effect on assets, liabilities, and stockholders' equity. The first item is provided as an example Stockholders Transaction Assets -Liabilities + 1. Issue common stock in exchange for cash. 2. Purchase business supplies on account 3. Pay for legal services for the current month. 4. Provide services to customers on account 5. Pay employee salaries for the current month. 6. Provide services to customers for cash 7. Pay for advertising for the current month 8 Repay loan from the bank 9. Pay dividends to stockholders. 10. Receive cash from customers in (4) above 11. Pay for supplies purchased in (2) above Increase No effect +Increase ncrease No effect Decrease Increase No effect Required information [The following information applies to the questions displayed below. Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred. July 3 Jake provides lawn services to Luke's repair shop on account, S500 July One of Jake' s mowers malfunctions. Luke provides repair services to Jake on account, $450 Tuly 9 Luke pays $500 to Jake for lawn services provided on July 3 July 14 Luke borrows $600 from Jake by signing a note. July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, 110 Tuly 20 Jake pays $450 to Luke for services provided on July 6 July 27 Luke performs repair services for other customers for cash, S800 July 30 Luke pays employee salaries for the month, $300 Tuly 31 Luke pays $600 to Jake for money borrowed on July 14 2. Using the format shown below, enter the impact of each transaction on the accounting equation for each company. (Decreases to account classifications should be entered as a negative.) JAKE'S LAWN MAINTENANCE COMPANY UKE'S REPAIR SHOP Assets = Liabilities + Stockholders' Equity Assets = Liabilities + Stockholders' Equity July 03 S 500 500 500 (500) 06 09 20 27 30 31