EF1-27 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation for Sam's Snack Foods, a supplier of snack foods Transaction (a) is answered as a guide (Click the icon to view the transactions.) a. Sam's Snack Foods received cash from Issuance of common stock to stockholders. Increase asset (Cash) Increase equily (Common Stock) b. Cash purchase of land for a building site a. b. Choose from any drop-down list and then click Check Answer 8 parts remaining Clear All Check Answer More Info . a. C. Sam's Snack Foods received cash from issuance of common stock to stockholders b. Cash purchase of land for a building site. Paid cash on accounts payable. d. Purchased equipment; signed a note payable. Performed service for a customer on account. Employees worked for the week but will be paid next Tuesday. g. Received cash from a customer on accounts receivable. h. Borrowed money from the bank. (Signed a note.) i. Cash dividends paid to stockholders. j. Incurred utilities expense on account. e. Print Done Clear All