exercise 3 7 CAN YOU MAKE INCOME STATEMENT ,REATAINED EARNING AND BALANCE SHEET USING BELOW DATA Nancy Tercek started a delivery service, Bramble Deliveries, on June 1, 2017 The following transactions occurred during the month of June June 1 Stockholders invested $19,500 cash in the business in exchange for common stock 2 Purchased a used van for deliveries for $14,900 Nancy paid $3,100 cash and signed a note payable for the remaining balance 3 Paid $700 for office rent for the month 5 Performed $4,500 of services on account 9 Declared and paid $200 in cash dividends 12 Purchased supplies for $300 on account 15 Received a cash payment of $1,500 for services performed on June 5 17 Purchased gasoline for $300 on account 20 Received a cash payment of $1,500 for services performed 23 Made a cash payment of $500 on the note payable 26 Paid $100 for utilities 29 Paid for the gasoline purchased on account on June 17 30 Paid $1,000 for employee salaries Show the effects of the previous transactions on the accounting equation using the following format (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 )

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exercise 3-7 CAN YOU MAKE INCOME STATEMENT ,REATAINED EARNING AND BALANCE SHEET USING BELOW DATA . Nancy Tercek started a delivery service, Bramble Deliveries, on

exercise 3-7

CAN YOU MAKE INCOME STATEMENT ,REATAINED EARNING AND BALANCE SHEET USING BELOW DATA .

Nancy Tercek started a delivery service, Bramble Deliveries, on June 1, 2017. The following transactions occurred during the month of June.

June 1		Stockholders invested $19,500 cash in the business in exchange for common stock.
2		Purchased a used van for deliveries for $14,900. Nancy paid $3,100 cash and signed a note payable for the remaining balance.
3		Paid $700 for office rent for the month.
5		Performed $4,500 of services on account.
9		Declared and paid $200 in cash dividends.
12		Purchased supplies for $300 on account.
15		Received a cash payment of $1,500 for services performed on June 5.
17		Purchased gasoline for $300 on account.
20		Received a cash payment of $1,500 for services performed.
23		Made a cash payment of $500 on the note payable.
26		Paid $100 for utilities.
29		Paid for the gasoline purchased on account on June 17.
30		Paid $1,000 for employee salaries.

Show the effects of the previous transactions on the accounting equation using the following format. (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.)