Analyze Each of the Following Transactions in Terms of Their

question 175

Essay

Analyze each of the following transactions in terms of their effects on the accounting equation of Hawkins Delivery Service.Enter the correct amounts in the columns of the spreadsheet.
a)James Hawkins 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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