Selected transactions for Swifty, an interior decorator corporation, in its first month of business, are as follows. 1 3. 4 5. 6. 7. 8. (a) Issued stock to investors for $15,800 in cash. Purchased used car for $10,300 cash for use in business. Purchased supplies on account for $320. Billed customers $5,430 for services performed. Paid $200 cash for advertising at the start of the business. Received $1,870 cash from customers billed in transaction (4). For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc); whether the specific account is increased or decreased; and the normal balance of the specific account. No. 1 2 Paid creditor $190 cash on account. Paid dividends of $300 cash to stockholders. sa 4 5. 6. 7. 8. Asset Basic Type Asset Cash Account Debited Specific Account Effect Increase >

Selected transactions for Swifty, an interior decorator corporation, in its first month of business, are as follows. 1 Issued stock to investors for $15,800 in cash. 2 Purchased used ar for $10,300 cash for use in business. 3. Purchased supplies on account for $320. 4. Billed astoriers $5,430 for services performed. 5. Paid \$200 cash for advertising at the start of the business. 6. Received $1.870 cash from customers billed in trarsaction (4). 7. Paid creditor $190 cash on account. 8. Paid dividends of $900 cash to stockholders. (a) For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders equity): the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc); whether the specific account is increased or decreased; and the normal balance of the specific account. For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited 'Cash. Rent Expense, Service Revenue, etc): Whether the specific account is increased or decreased: and the normal balance of the specific account. feach bansacion indicate the bakk type of acrount debited and credited (asset, liability stockholders' equity): the specific It the nomid balance of the speolsc account