Current Attempt in Progress

Selected transactions for Verdent Lawn Care Company are as follows.

Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

For example, the first answer is: Increase in assets and increase in stockholders' equity.

Sold common stock for cash to start business.

Paid monthly rent.

Purchased equipment on account.

Billed customers for services performed.

Paid dividends.

Received cash from customers billed in $(4).$