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Boston Inc. was started on January 1, 2016. The company experienced the events listed below during its first year of operations Match each event with
Boston Inc. was started on January 1, 2016. The company experienced the events listed below during its first year of operations Match each event with its effect on the company's income statement for 2016. Acquired $50,000 cash from issuing common stock to the owners Increase Revenues. Increase Net Income Increase Expenses, Decrease Net Income., Received $50,000 cash for providing decorating services to customers No Effect. Received $5,000 cash from renting part of the company's warehouse to a different company Paid workers $9,000 in salaries Borrowed $10,000 cash from the bank Answer for the immediate effect of borrowing. Received $20,000 in cash from customers for providing consulting services that have been completed Paid $8,000 for utilities and rent on headquarters building Paid a $2,000 cash dividend to the owners Paid $3,000 of principal on the loan. No interest was paid
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