Enter each transaction into the accounting equation and identify its
Enter each transaction into the accounting equation and identify its increase or decrease to assets, liabilities, shareholder’s equity, revenues, or expenses of Green Trees & Lawn Corp.
1. Green Trees & Lawn earned and collected the cash for $15,000 in service revenues.
2. The business paid $2,000 cash for supplies.
3. Green Trees & Lawn paid $1,500 of a $4,000 note payable to creditors.
4. The company paid $1,100 for rent expense.
5. The company’s owner provided $7,500 in additional financing in exchange for common stock.
6. The business declared and paid $2,100 in dividends.
7. Green Trees & Lawn loaned $2,225 cash to another company.
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