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need this solved please EX 1-12 Transactions OBJ. 4 The following selected transactions were completed by Cota Delivery Service during July: 1. Received cash in
need this solved please
EX 1-12 Transactions OBJ. 4 The following selected transactions were completed by Cota Delivery Service during July: 1. Received cash in exchange for common stock, $35,000. 2. Purchased supplies for cash, $1,100. 3. Paid rent for October, $4,500. 4. Paid advertising expense, $900 5. Received cash for providing delivery services, $33,000. 6. Billed customers for delivery services on account, $58,000. 7. Paid creditors on account, $2,900. 8. Received cash from customers on account, $27,500. 9. Determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month 10. Paid cash dividends, $2,500. Indicate the effect of each transaction on the accounting equation by listing the num- bers identifying the transactions, (1) through (10), in a column, and inserting at the right of each number the appropriate letter from the following list: a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability. c. Increase in an asset, increase in stockholders' equity d. Decrease in an asset, decrease in a liability e. Decrease in an asset, decrease in stockholders' equityStep by Step Solution
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