b5d-aa30-bd894bb066e5#/question/2 Question 3 of 10 -/8 Tiew Policies Current Attempt in Progress Sunland Company entered into these transactions during May 2020, its first month of operations, 1. 2. 3. 4. 5. Shareholders invested $39.000 in the business in exchange for common shares of the company. Purchased computers for office use for $28.200 from Ladd on account. Paid $3,860 cash for May rent on storage space. Performed computer services worth $20,400 on account. Performed computer services for Wharton Construction Company for $5.700 cash. Paid Western Power Co. $9.400 cash for energy usage in May. Paid Ladd for the computers purchased in item 2. Incurred advertising expense for May of $1,230 on account. Received $14,100 cash from customers for contracts billed in item 4. 6. 7. 8. 9. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Shareholders' Equity in the far right column. Of a transaction causes a decrease in Assets, Liabilities or Shareholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 0-3 for example.) Cash Assets Accounts Receivable + + Equipment Liabilities Accounts Payable (1) $ $ (2) (3) (5) 19) $ e Textbook and Media Attempts of used b5d-aa30-bd894bb066e5#/question/2 Question 3 of 10 -/8 Tiew Policies Current Attempt in Progress Sunland Company entered into these transactions during May 2020, its first month of operations, 1. 2. 3. 4. 5. Shareholders invested $39.000 in the business in exchange for common shares of the company. Purchased computers for office use for $28.200 from Ladd on account. Paid $3,860 cash for May rent on storage space. Performed computer services worth $20,400 on account. Performed computer services for Wharton Construction Company for $5.700 cash. Paid Western Power Co. $9.400 cash for energy usage in May. Paid Ladd for the computers purchased in item 2. Incurred advertising expense for May of $1,230 on account. Received $14,100 cash from customers for contracts billed in item 4. 6. 7. 8. 9. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Shareholders' Equity in the far right column. Of a transaction causes a decrease in Assets, Liabilities or Shareholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 0-3 for example.) Cash Assets Accounts Receivable + + Equipment Liabilities Accounts Payable (1) $ $ (2) (3) (5) 19) $ e Textbook and Media Attempts of used