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During 2025, its first year of operations as a delivery service, Blossom Corp. entered into the following transactions. 1. Issued shares of common stock
During 2025, its first year of operations as a delivery service, Blossom Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $149,000 in cash. 2. Borrowed $48,000 by issuing bonds. 3. Purchased delivery trucks for $68,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $4,000 on account. 6. Paid rent of $4,700. 7. Performed services on account for $10,800. 8. Paid salaries of $27,400. 9. Paid a dividend of $11.100 to stockholders. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the far-right column. (If a transaction causes 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.) 13 Cash 149000 (2) 48000 (3) -68000 FP (4) 16000 (5) (6) -4700 96 (7) (8) (9) 27400 -11100 Accounts Receivable 10800 Supplies Equi i 4000 Equipment Accounts Payable Bonds Common Payable Stock i 68000 4000 48000 i 149 Stock Revenues Expenses 149000 $ i i i 16000 10800 Retained Earnings Dividends i i THE 11100 Issued Stock Paid Dividends A Salaries and Wages Expense Issued Stock Paid Dividends Salaries and Wages Expense Service Revenue Rent Expense Kent Expense Service Revenue Salaries and Wages Expense Paid Dividends W
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