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Please label the answer with the numbers correlating on the picture and explain how it is done please! Carla Vista Company entered into these transactions
Please label the answer with the numbers correlating on the picture and explain how it is done please!
Carla Vista Company entered into these transactions during May 2025, its first month of operations. 1. Stockholders invested $38,500 in the business in exchange for common stock of the company. 2. Purchased computers for office use for $26,200 from Ladd on account. 3. Paid $2,800 cash for May rent on storage space. 4. Performed computer services worth $16,300 on account. 5. Performed computer services for Wharton Construction Company for $4,100 cash. 6. Paid Western States Power Co. $6,200 cash for energy usage in May. 7. Paid Ladd for the computers purchased in (2). 8. Incurred advertising expense for May of $2,400 on account. 9. Received $10,400 cash from customers for contracts billed in (4). Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the far-right column. (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.) Assets \begin{tabular}{llll} \hline Cash & + & AccountsReceivable+ & Equipment \\ \hline \end{tabular} (1) \$ $ (2) (3) (4) (5) (6) (7) (8) (9) Equity Retained Earnings - Expenses $ Advertising Expense Rent Expense Service Revenue Utilities ExpenseStep by Step Solution
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