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Problem 1-4A (Part Level Submission) Nancy Tercek started a delivery service, Windsor, Inc., on June 1, 2019. The following transactions occurred during the month of
Problem 1-4A (Part Level Submission) Nancy Tercek started a delivery service, Windsor, Inc., on June 1, 2019. The following transactions occurred during the month of June. June 1 Stockholders invested $13,900 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries for $15,000. Nancy paid $3,700 cash and signed a note payable for the remaining balance. 3 Paid $700 for office rent for the month. 5 9 12 15 17 20 23 26 29 30 Performed $4,500 of services on account. Declared and paid $200 in cash dividends. Purchased supplies for $300 on account. Received a cash payment of $1,500 for services performed on June 5 Purchased gasoline for $200 on account. Received $1,700 cash for services performed. Made a cash payment of $800 on the note payable. Paid $250 for utilities. Paid for the gasoline purchased on account on June 17 Paid $1,960 for employee salaries. (a) Show the effects of the previous transactions on the accounting equation using the following format. (Ifa 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. See Illustration 1-8 for example.)
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