ACC 231 Fall 2020 Homework: Chapter 2 Prep Assignment Score: 2.86 of 5 pts 1 of 2 (1 complete) S2-5 (book/static) Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable answer box. If a box is not used in the table, leave the box empty.) Assets Increase Decrease Liabilities Decrease Stockholders' equity Increase Decrease Increase X X X Date Description Jan 2 Purchased office supplies on account for $500 Jan 4 Issued common stock for cash for $5,000 Jan 10 Performed services on account for $2,000. Paid amount owed to vendor for the office Jan 15 supplies purchased on account on January 2 x Assets Liabilities Stockholders' equity Increase Decrease Increase Decrease increase Decrease Date Description Jan 18 Performed services for cash $200 Received cash for payment on account from Jan 21 revenue on January 10 Jan 31 Pald employees for monthly payroll $1,500 X