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During 2022, its first year of operations as a delivery service, Splish Brothers Corp, entered into the following transactions. 1. Issued shares of common
During 2022, its first year of operations as a delivery service, Splish Brothers Corp, entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $116,000 in cash. 23 Borrowed $52,200 by issuing a note. 3. Purchased delivery trucks for $69,600 cash 4. Performed services for customers for $18,560 cash 5. Purchased supplies for $5,452 on account. 6. Paid rent of $6,032. 7. Performed services on account for $11,600. 8. Paid salaries of $32.480. 9. Paid a dividend of $12,760 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 negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Cash (1) $ (2) (3) (4) (5) 3892 (8) (6) (7) (9) $ Accounts Receivable. $ I Assets Supplies Equipment $ Liabilities Accounts Payable $ Notes Payable I Common Stock Revenues $ $ Stockholde Revenues $ Stockholders' Equity Retained Earnings Expenses Dividends $ I
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