View Policies Show Attempt History Current Attempt in Progress Leppard Enterprises had the following selected transactions. 1. 2. 3. 4. Kim Leppard invested $5,000 cash in the business in exchange for common stock. Paid office rent of $950. Performed consulting services and billed a client $4,700. Declared and paid a $600 cash dividend. (a) Your answer is correct. Indicate the effect each transaction has on the accounting equation (Assets = Liabilities + Stockholders' Equity), using plus and minus signs. Assets Liabilities + Stockholders' Equity 1. + 2. 3. 4. e Textbook and Media Attempts: 1 of 4 used (b) Your answer is partially correct. Journalize each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (b) Your answer is partially correct. Journalize each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Cash $5,000 Common stock $5,000 2. Rent Expense $950 Cash $950 3. Accounts Receivable $4,700 Service Revenue $4,700 4. Retained Earnings / Dividend $600 Cash $600 e Textbook and Media Save for Later Attempts: 3 of 4 used Submit