Show the effect of each transaction on the accounting

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Reference no: EM131807295

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Exercise 3-3 During 2017, its first year of operations as a delivery service, Bramble Corp. entered into the following transactions.

1. Issued shares of common stock to investors in exchange for $145,000 in cash.

2. Borrowed $48,000 by issuing bonds.

3. Purchased delivery trucks for $54,000 cash.

4. Received $16,000 from customers for services performed.

5. Purchased supplies for $4,300 on account.

6. Paid rent of $4,800.

7. Performed services on account for $11,600.

8. Paid salaries of $27,200.

9. Paid a dividend of $10,000 to shareholders.

Using the following tabular analysis, show the effect of each transaction on the accounting equation.

Put explanations for changes to S the amount entered for the particular Asset, Liability or Equity item that was reduced, see Illustration 3-3 for example.

Reference no: EM131807295

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