please answer each one

Required information E2-12 Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet LO 2-2, LO 2-3, LO 2.4] [The following information applies to the questions displayed below) Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year. a. Received $40,000 cash from the company's founders in exchange for common stock. b. Purchased land for $12,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each paid $2,000 cash and signed a note due in three years for $18,000 (ignore interest), d. Poid $2,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. E2-12 Part 1 Required: 1. Analyze each item for its effects on the accounting equation of LDS for the year ended December 31. (Enter any decreases to account balances with a minus sign.) TIP: Transaction (a) is presented below as an example TIP: The new motor in transaction () is treated as an increase to the cost of the truck Assets Cash Equipment Land Liabilities Accounts Notes Payable Payable long-term) 0 0 Stockholders Equity Common Stock 0 40,000 Beg 0 0 0 40.000 b d e End. Required information E2-12 Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet[LO 2-2, LO 2-3, LO 2-4] [The following information applies to the questions displayed below) Laser Delivery Services, Inc. (LDS). was incorporated January 1. The following transactions occurred during the year. a Received $40,000 cash from the company's founders in exchange for common stock b. Purchased land for $12,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each paid $2,000 cash and signed a note due in three years for $18,000 (ignore interest). d Paid $2.000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. E2-12 Part 2 2. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 1 2 Received $40,000 cash from the company's founders in exchange for common stock. Record the transaction Notic Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general Journal Required information E2-12 Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet [LO 2-2, LO 2-3, LO 2-4) [The following information applies to the questions displayed below) Loser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the yeon a. Received $40,000 cash from the company's founders in exchange for common stock b. Purchased land for $12,000, signing a two-year note (ignore interest) c Bought two used delivery trucks at the start of the year at a cost of $10,000 each paid $2.000 cash and signed a note due in three years for $18,000 (ignore interest) d. Paid $2.000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks e Stockholder Jonah Lee pold $300,000 cash for a house for his personal use. E2-12 Part 3 3. Show the effects of the journal entries by account, using the T-account Cash Equipment Beg Bal Beg Bal End Bal End Bal Land Notes Payable Beg Bal Beg Bal End Bal End Bal Common Stock Beg Bal End Bal Required information E2-12 Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet (LO 2-2, LO 2-3, LO 2-4) [The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year a. Received $40,000 cash from the company's founders in exchange for common stock b. Purchased land for $12,000, signing a two-year note (ignore interest) c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2.000 cash and signed a note due in three years for $18,000 (ignore interest) d. Paid $2.000 cash to a truck repair shop for a new motor which increased the cost of one of the trucks e Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. E2-12 Part 4 4. Prepare a classified balance sheet for LDS at December 31. Include Retained Earnings on the balance sheet even though the account has a zero balance. LASER DELIVERY SERVICES, INC. Balance Sheet Required information E2-12 Analyzing the Effects of Transactions Using T-Accounts: Preparing and Interpreting a Balance Sheet(LO 2-2, LO 2-3, LO 2-4) [The following information applies to the questions displayed below) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a Received $40,000 cash from the company's founders in exchange for common stock b. Purchased land for $12,000, signing a two-year note (ignore interest). c Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2,000 cash and signed a note due in three years for $18,000 (ignore interest). d. Paid $2,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. E2-12 Part 5 5. Using the balance sheet, indicate whether LDS's assets at the end of the year were financed primarily by liabilities or stockholders equity O Liabilities Stockholders' Equity