Analyze Each of the Following Transactions in Terms of Their

question 159

Essay

Analyze each of the following transactions in terms of their effects on the accounting equation of Osgood Delivery Service. Enter the correct amounts in the columns of the spreadsheet.
a) James Osgood contributes $75,000 to the business. The business issues common stock to James.
b) The business purchases $750 of office supplies on account.
c) The business pays cash to purchase a delivery van for $25,000.
d) Services are performed for clients and $5,000 cash is received.
e) Cash is paid for office rent expense, $800 and utilities expense, $400.
f) Cash dividends of $1,000 are paid to stockholders.

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Definitions:

Cold Objects

Items that are at a low temperature, potentially causing a decrease in temperature of anything they come into contact with.

Merkel Disks

Specialized skin cells that function as mechanoreceptors to sense touch and texture.

Pacinian Corpuscles

Specialized nerve endings in the skin and visceral organs sensitive to pressure and vibration.

Meissner Corpuscles

Specialized nerve endings found in the skin that are responsible for sensitivity to light touch.