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the one that is not showing is expenses, please solve. Manning Company entered into these transactions during May 2014, its first month of operations. Stockholders
the one that is not showing is expenses, please solve.
Manning Company entered into these transactions during May 2014, its first month of operations. Stockholders invested $34,800 in the business in exchange for common stock of the company Purchased computers for office use for $30,260 from Dell on account. Paid $5,110 cash for May rent on storage space. Performed computer services worth $18,460 on account. Performed computer services to Lawton Construction Company for $5,250 cash. Paid Southern States Power Co. $7,930 cash for energy usage in May. Paid Dell for the computers purchased in (2). Incurred advertising expense for May of $2,040 on account. Received $11,640 cash from customers for contracts billed in (4). Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction causes a decrease in Assets, Liabilitie: Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. S for example.)Step by Step Solution
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