Analyze the following transactions in terms of their effect on the basic accounting equation. Record each transaction by increasing (+) or decreasing (-) the dollar amount of each item affected. Indicate the new balance of each item after a transaction is recorded.
(1) Issued stock to investors for $20,000 in cash.
(2) Purchased supplies on credit for $700.
(3) Billed customers $1,000 for services provided.
(4) Paid for supplies purchased in transaction 2.
(5) Paid dividends of $300 cash to stockholders.
(6) Received half from customers billed in transaction 3.
(7) Received and paid utility bill for $100. 
Definitions:
Free Trade
The unregulated exchange of goods and services across borders without tariffs or other barriers.
Political Union
A type of state or entities agreement which involves a shared government and often a merged economy and policy-making.
Trade Restrictions
Measures implemented by countries to regulate or limit the import and export of goods and services, including tariffs, quotas, and embargoes.
GATT
GATT, or the General Agreement on Tariffs and Trade, was a multilateral treaty aimed at reducing trade barriers and promoting international trade through the regulation and liberalization of trade policies.
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