. Selected transactions for Crawform Company, Inc. are listed here. 1. Billed customers for services performed. 2. Issued common stock to investors in exchange for cash received from investors. 3. Paid monthly rent. 4. Received cash from customers when service was performed. 5. Paid dividend to stockholders. 6. Incurred advertising expense on account. 7. Received cash from customers previously billed. 8. Purchased additional equipment for cash. 9. Purchased equipment on account.

Instructions Describe the effect of each transaction on assets, liabilities, and stockholders' equity. For example, the first answer is (1) Increase in assets and increase in stockholders' equity.