Reference no: EM132636317

Nancy Tercek started a delivery service, Bramble Deliveries, on June 1, 2017. The following transactions occurred during the month of June.

June 1 Stockholders invested $19,500 cash in the business in exchange for common stock.

2 Purchased a used van for deliveries for $14,900. Nancy paid $3,100 cash and signed a note payable for the remaining balance.

3 Paid $700 for office rent for the month.

5 Performed $4,500 of services on account.

9 Declared and paid $200 in cash dividends.12Purchased supplies for $300 on account.

15 Received a cash payment of $1,500 for services performed on June 5.

17 Purchased gasoline for $300 on account.

20 Received a cash payment of $1,500 for services performed.

23 Made a cash payment of $500 on the note payable.

26 Paid $100 for utilities.

29 Paid for the gasoline purchased on account on June 17.

30 Paid $1,000 for employee salaries.

Question 1: Show the effects of the previous transactions on the accounting equation using the following format. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)