Indicate the effects of the following business transactions on the accounting equation for Yummy Snack Foods, a supplier of snack foods. Transaction $($a$)$ is answered as a guide.

$1-41$

Yummy Snack Foods received cash from issuance of common stock to stockholders.

Answer: Increase asset $($Cash$)$; Increase equity $($Common Stock$)$

Cash purchase of land for a building site.

Increase asset $($cash$),$ increase liabilitys

Paid cash on accounts payable.

Purchased equipment; signed a note payable.

Performed service for a customer on account.

Employees worked for the week but will be paid next Tuesday.

Received cash from a customer on accounts receivable.

Borrowed money from the bank.

Cash dividends paid to stockholders.

Incurred utilities expense on account.