Reference no: EM132955653
During 2022, its first year of operations as a delivery service, Splish Brothers Corp. entered into the following transactions.
1. Issued shares of common stock to investors in exchange for $94,000 in cash.
2. Borrowed $42,300 by issuing a note.
3. Purchased delivery trucks for $56,400 cash.
4. Performed services for customers for $15,040 cash.
5. Purchased supplies for $4,418 on account.
6. Paid rent of $4,888.
7. Performed services on account for $9,400.
8. Paid salaries of $26,320.
9. Paid a dividend of $10,340 to shareholders.
Problem 1: Show the effect of each transaction on the accounting equation.
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: Show the effect of each transaction on the accounting equation. Issued shares of common stock to investors in exchange for $94,000 in cash.
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