Describe the effect of each transaction on assets liabilities and stockholders equity homework help

Describe the effect of each transaction on assets liabilities and stockholders equity homework help

Write a minimum 50 word response to each of the following scenarios describing the effect of each transaction on assets, liabilities, and stockholders’ equity.

Selected transactions for Thyme Advertising Company, Inc.

  • Issued common stock to investors in exchange for cash received from investors.
  • Paid monthly rent.
  • Received cash from customers when service was performed.
  • Billed customers for services performed.
  • Paid dividend to stockholders.
  • Incurred advertising expense on account.
  • Received cash from customers billed in (4).
  • Purchased additional equipment for cash.
  • Purchased equipment on account.

Use the Excel® spreadsheet to record your answers and submit with your responses.