Chapter $2$ Assignment $i$

$1$

$3\mathrm{.}33$

points

Problem $2-1$A $($Static$)$ Analyze the impact of transactions on the accounting equation $($LO$2-2)$

Below is a list of activities for Jayhawk Corporation.

Required:

Select whether the transaction increases or decreases assets, liabilities, and stockholders' equity. Leave blank if no effect. The first item is provided as an example.

$\backslash$table$[[$Transaction$,$Assets,$=,$Liabilities,$+,$Stockholders' Equity$],[1.$ Issue common stock in exchange for cash.,Increase,$=,,+,$Increase$],[2.$ Purchase business supplies on account.,,$=,,+,],[3.$ Pay for legal services for the current month.,,$=,,+,],[4.$ Provide services to customers on account.,,$=,,+,],[5.$ Pay employee salaries for the current month.,,$=,,+,],[6.$ Provide services to customers for cash.,,$=,+,+,],[7.$ Pay for advertising for the current month.,,$=,+,+,],[8.$ Repay loan from the bank.,,$=,,+,],[9.$ Pay dividends to stockholders.,,$=,+,+,],[10.$ Receive cash from customers in $(4)$ above.,,$=,+,+,],[11.$ Pay for supplies purchased in $(2)$ above.,,$=,+,+,]]$