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Nancy Tercek started a delivery service, Larkspur, Inc., on June 1, 2022. The following transactions occurred during the month of June. June 1 2 3
Nancy Tercek started a delivery service, Larkspur, Inc., on June 1, 2022. The following transactions occurred during the month of June. June 1 2 3 5 9 12 Stockholders invested $16,400 cash in the business in exchange for common stock. Purchased a used van for deliveries for $14,000. Nancy paid $3,800 cash and signed a note payable for the remaining balance. Paid $700 for office rent for the month. Performed $4.900 of services on account. Declared and paid $300 in cash dividends. Purchased supplies for $300 on account Received a cash payment of $1,200 for services performed on June 5. Purchased gasoline for $300 on account. Received $1,300 cash for services performed. Made a cash payment of $500 on the hote payable. Paid $250 for utilities. Paid for the gasoline purchased on account on June 17. Paid $2,820 for employee salaries. 15 17 20 23 26 29 30 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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Date Cash Accounts Receivable Supplies E June 1 $ $ $ $ 2 3 5 17 20 23 26 29 30 $ $ $ $ Larkspur, Inc. Liabilities Equipment Notes Payable Accounts Payable Comm Stoch $ Stockholders' Equity Retained Earnings Common Stock Revenues Expenses Dividend: $ $ e 52: for Paid rcek
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