View Policies Current Attempt in Progress During 2022, its first year of operations as a delivery service, Kingbird Corp. entered into the following transactions. 1. 2. 3. 4. 5. Issued shares of common stock to investors in exchange for $124,000 in cash. Borrowed $55,800 by issuing a note. Purchased delivery trucks for $74,400 cash. Performed services for customers for $19,840 cash. Purchased supplies for $5,828 on account. Paid rent of $6,448. Performed services on account for $12,400. Paid salaries of $34.720. Paid a dividend of $13,640 to shareholders. 6. 7. 8. 9. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for revenues or expenses in the right-hand margin. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity negative sign (or parentheses) in front of the amount entered for the particular Asset. Liability or Equity item that was reduced.) Using the following tabular analysis show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the right-hand margin. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Cash Accounts Receivable Supplies Equipment (1) $ $ $ $ (2) (3) (4) (5) (6) (7) (8) 19) $ $