ermine the 1 each transaction 2 Assets decrease and equity increases 3 Assets increase and liabilities increase 4 Assets increase and liabilities decrease Jan. 1 Trey and Jackie each contributed 100,000 in exchange for Common Stock of the TJ Corporation, The company purchased laptops worth $4,000 by putting down a 20% payment in cash and taking out a 9-month 1 note payable for the balance. 2 The company purchased prepaid insurance for $480 for a 6-month policy. 5 Assets increases and Assets decrease 6 Assets decrease and liabilities decrease Assets increase and equity decreases 7 B Assets increase and liabilities increase 9 Liabilities increase and equity decreases 10 Liabilities decrease and equity increases 11 Assets decrease and liabilities increase 12 Assets decrease and liabilities decrease 13 Jan. Jan. Jan. 3 The company purchased supplies for $450. Jan. 4 The company prepaid 6 months of rent for $18,000. Jan. Jan 15 The company received $28,000 for 7 service jobs to be completed in the future 16 The company hired an employee Jan Jan. 17 The company performed services worth $12,000 on account (not related to the transaction on Jan 15). 17 The company performed services worth $8,000 (not related to the transaction on Jan 15). Jan 24 The company incurred legal fees worth $800 on account. Jan. 29 The company declared and paid a dividend of 500 in total ($250 to each shareholder)