Question
During 2022, its first year of operations as a delivery service, Marin Corp. entered into the following transactions. 1. Issued shares of common stock to
During 2022, its first year of operations as a delivery service, Marin Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $106,000 in cash. 2. Borrowed $47,700 by issuing a note. 3. Purchased delivery trucks for $63,600 cash. 4. Performed services for customers for $16,960 cash. 5. Purchased supplies for $4,982 on account. 6. Paid rent of $5,512. 7. Performed services on account for $10,600. 8. Paid salaries of $29,680. 9. Paid a dividend of $11,660 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.) Assets = Liabilities + Stockholders Equity Retained Earnings Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable + Notes Payable + Common Stock + Revenues Expenses Dividends (1) $enter a dollar amount 106000 $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount 47700 $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount (2) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount (3) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount (4) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an explanation (5) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount (6) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an explanation (7) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an explanation (8) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an explanation (9) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount $enter a total amount $enter a total amount $enter a total amount
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