Assets Liabilities + Cash 1.+$25,000 + Equipment = Accounts Payable + A tabular analysis of the transactions for the month of August is shown below. Describe each transaction = Stockholders' Equity Retained Earnings Common Stock +$25,000 + Revenue Expenses 2. +$7,000 === +$7,000 3. +8,000 +$8,000 4. -850 -$850 $32,150 + $7,000 == $7,000 + $25,000 + $8,000 $850 $39,150 $39,150 Which of the following statement description is false Company issued shares of stock for $25,000 cash Company purchased $7,000 of equipment on account Company received $8,000 cash in exchange for services performed Company received $850 for this month's rent