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During 2022, its first year of operations as a delivery service, Marin Corp. entered into the following transactions. Issued shares of common stock to
During 2022, its first year of operations as a delivery service, Marin Corp. entered into the following transactions. Issued shares of common stock to investors in exchange for $128,000 in cash. 1. 2. Borrowed $57,600 by issuing a note. 3. Purchased delivery trucks for $76,800 cash. 4. Performed services for customers for $20,480 cash. 5. Purchased supplies for $6,016 on account. 9 6. Paid rent of $6,656. 7. Performed services on account for $12.800. 8. Paid salaries of $35,840. 9. Paid a dividend of $14,080 to shareholders. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the right-hand margin. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a Question 4 of 6 -/4 Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the right-hand margin. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (1) $ (2) 22 (3) (4) (5) Cash. Accounts Receivable Assets Supplies Equipment
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