The purpose of this assignment is to help you become familiar with examining transactions and how it affects the balance sheet. – SeeTutorials.com


The purpose of this assignment is to help you become familiar with examining transactions and how it affects the balance sheet.
Assignment Steps
Resources: Financial Accounting: Tools for Business Decision Making
response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing the effect of each transaction on assets, liabilities, and stockholder’s equity:
•Selected transactions for Thyme Advertising Company, Inc.
◦Issued common stock to investors in exchange for cash received from investors.
◦Paid monthly rent.
◦Received cash from customers when service was performed.
◦Billed customers for services performed.
◦Paid dividend to stockholders.
◦Incurred advertising expense on account.
◦Received cash from customers billed in (4).
◦Purchased additional equipment for cash.
◦Purchased equipment on account.
Use the Excel® spreadsheet to record your answers and submit with your responses.

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