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Business, 22.09.2020 21:01 mirza326

During 2014, its first year of operations as a delivery service, Persinger Corp entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash.
2. Borrowed $45,000 by issuing bonds.
3. Purchased delivery trucks for $60,000 cash.
4. Received $16,000 from customers for services performed.
5. Purchased supplies for $4,700 on account.
6. Paid rent of $5,200.
7. Performed services on account for $10,000.
8. Paid salaries of $28,000.
9. Paid a dividend of $11,000 to shareholders.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for change decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in front of the amount
Assets =Liabilities
Cash+Accounts Receivable+Supplies+Equipment =Accounts Payable +Notes Payable+Common Stock

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During 2014, its first year of operations as a delivery service, Persinger Corp entered into the fol...

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