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1. Speedy Delivery Service had the following selected transactions during April: [QUESTION HAS BEEN COMPLETED, JUST NEED ANSWERS CHECKED PLEASE] Received cash from issuance of
1. Speedy Delivery Service had the following selected transactions during April: [QUESTION HAS BEEN COMPLETED, JUST NEED ANSWERS CHECKED PLEASE]
- Received cash from issuance of capital stock, $100,000. --> c
- Paid rent for April, $4,200. --> e
- Paid advertising expense, $3,000. --> e
- Received cash for providing delivery services, $27,000. --> c
- Purchased supplies for cash, $2,500. --> e
- Billed customers for delivery services on account, $81,200. --> c
- Paid creditors on account, $8,300. --> d
- Received cash from customers on account, $25,600. --> a
- Determined that the cost of supplies on hand was $900; therefore, $1,600 of supplies had been used during the month. --> e
- Paid dividends, $3,000. --> e
Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1) through (10), in a vertical column, and inserting at the right of each number the appropriate letter from the following list:
- Increase in an asset, decrease in another asset.
- Increase in an asset, increase in a liability.
- Increase in an asset, increase in stockholders equity.
- Decrease in an asset, decrease in a liability.
- Decrease in an asset, decrease in stockholders equity.
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