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Exercise 3-3 Your answer is partially correct. Try again. During 2017, its first year of operations as a delivery service, Concord Corporation entered into the
Exercise 3-3 Your answer is partially correct. Try again. During 2017, its first year of operations as a delivery service, Concord Corporation entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $181,000 in cash. 2. Borrowed $54,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $17,000 from customers for services performed 5. Purchased supplies for $5,800 on account. 6. Paid rent of $4,800 7. Performed services on account for $11,000 8. Paid salaries of $29,300 9. Paid a dividend of $10,700 to shareholders. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explaations for changes to Stockholders Equity in the far right column. (Ifa transaction causes a decrease In Ass 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, see Illustration 3-3 for examp Assets Liabilities Stockholders' Equity Accounts Supplies Equip Receivable EquipmentAccounts Payable untsPayable Bonds Common+ Cash Retained Earnings Stock RevenuesExpensesDividends
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