View Policies Show Attempt History Current Attempt in Progress -Your answer is partially correct Transactions for Jayne Company for the month of June are presented below Issues common stock to investors in exchange for $5,000 cash. June 1 Buys equipment on account for $1,100. 2 Pays $740 to landlord for June rent. 3 Sends Wil Wheaton a bill for $700 after completing welding work. 12 Identify the accounts to be debited and credited for each transaction. Account Credited Account Debited Common Stock June 1 Equipment June 2 June 3 Rent Expense Accounts Payable June 12 eTextbook and Media Assets Liabilities Stockholders' Equity Supp. Equip. Cash + A/R Accounts Payable + Common Stock+ Retained Earnings Revenues Expenses Dividends $16,800 1. $16,800 2. -1,800 $5,100 $3,300 3. $550 -550 $5,500 4. 4,300 $9,800 Serv. Rev 5. -2,400 -2,400 6. -1,900 -$1,900 7. -740 -$740 Rent Exp 8. 380 -380 9. Salar. Exp. -3,600 -3,600 Util. Exp. 10. 250 -250 (b) Determine how much stockholders' equity increased for the month Increase in stockholders' equity $ (c) Compute the net income for the month. The net Income un