Reference no: EM132992469
Nancy Tercek started a delivery service, Larkspur, Inc., on June 1, 2022. The following transactions occurred during the month of June.
June
1 Stockholders invested $ 16,400 cash in the business in exchange for common stock.
2 Purchased a used van for deliveries for $ 14,000. Nancy paid $ 3,800 cash and signed a note payable for the remaining balance.
3 Paid $ 700 for office rent for the month.
5 Performed $ 4,900 of services on account.
9 Declared and paid $ 300 in cash dividends.
12 Purchased supplies for $ 300 on account.
15 Received a cash payment of $ 1,200 for services performed on June 5.
17 Purchased gasoline for $ 300 on account.
20 Received $ 1,300 cash for services performed.
23 Made a cash payment of $ 500 on the note payable.
26 Paid $ 250 for utilities.
29 Paid for the gasoline purchased on account on June 17.
30 Paid $ 2,820 for employee salaries.
Problem 1: Show the effects of the previous transactions on the accounting equation