r

For each of the transactions given, tell whether it increases, decreases, or has no effect on shareholders' equity. Consider both shareholders' equity componentscontributed capital and retained earnings. i (Click here to view transactions.) For each transaction, determine whether it increases, decreases or has no effect on shareholders' equity. Then determine which component of shareholders' equity-contributed capital or retained earningsif any, is affected. (If there is no effect on shareholders' equity, leave the last column blank.) Component of Shareholders' equity 0 Transactions Effect on Transaction Shareholders' equity 1. Two friends get together, each contributing $7,125 to start the Swing Right Golf Supplies Corporation, in exchange for common stock. 2. Swing Right purchases equipment for $6,250 cash. 3. Swing Right purchases $3,000 worth of inventory for cash. 4. Swing Right pays expenses of $800 for electricity and phone for the month. 5. Swing Right makes cash sales to customers of $4,685 during the month. 6. Swing Right pays employees $2,000 for hours worked during the month. L 7. Swing Right declares and pays $500 dividends to each of its owners at 1. 2. 3. Two friends get together, each contributing $7,125 to start the Swing Right Golf Supplies Corporation, in exchange for common stock. Swing Right purchases equipment for $6,250 cash. Swing Right purchases $3,000 worth of inventory for cash. Swing Right pays expenses of $800 for electricity and phone for the month. Swing Right makes cash sales to customers of $4,685 during the month. Swing Right pays employees $2,000 for hours worked during the month. Swing Right declares and pays $500 dividends to each of its owners at the end of the month 5. 6. 7. the end of the month. Print Done