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styles Question 2: Analyze the effects of the transactions given below(20 marks). ASSETS LIABILITIES + STOCKHOLDERS' EQUITY Accounts Receivable Cash Common Notes Payable Retained Truck Bal Supplies $ 500 Accounts Payable $ 2,500 Stock $ 10,000 $ 2,000 $ Earnings $ 6,000 4,000 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 7. 8. 9. 10. 1. Boring invested $210,000 in exchange for common stock. 2. Purchased $1,000 of supplies on account. 3. Purchased a truck for $12,000, terms $1,500 down and the balance on a 2-year note payable. 4. Provided $5,000 of services for cash. 5. Provided $1,000 of services on account. 6. Paid an employee salary of $1,200. 7. Collected $500 on account 8. Paid a $700 dividend. 9. Paid $1,000 on account for the supplies purchased in transaction 2. 10. Paid $800 rent