Shamrock Company, a computer services company, entered into these transactions during May, its first month of operations. 1. Stockholders invested $44,800 in the business in exchange for common stock of the company. 2. Purchased computers for office use (recorded as Equipment) for $33,600 from Ladd Co. on account. 3. Paid $4,480 cash for May rent on storage space. 4. Performed computer services worth $21,280 on account. 5. Performed computer services for Wharton Construction Company for $5,600 cash. 6. Paid Western States Power Co. $8,960 cash for energy usage in May. 7. Paid Ladd Co. for the computers purchased in (2). 8. Incurred advertising expense for May of $1,456 on account. 9. Received $13,440 cash from customers for contracts billed in. 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 column. ∙ Decreasesin assets, liabilities, orstockholders' equity require a negative sign or parentheses. Increasesin expensesrequire a negative sign or parentheses
Shamrock Company, a computer services company, entered into these transactions during May, its first month of operations. 1. Stockholders invested $44,800 in the business in exchange for common stock of the company. 2. Purchased computers for office use (recorded as Equipment) for $33,600 from Ladd Co. on account. 3. Paid $4,480 cash for May rent on storage space. 4. Performed computer services worth $21,280 on account. 5. Performed computer services for Wharton Construction Company for $5,600 cash. 6. Paid Western States Power Co. $8,960 cash for energy usage in May. 7. Paid Ladd Co. for the computers purchased in (2). 8. Incurred advertising expense for May of $1,456 on account. 9. Received $13,440 cash from customers for contracts billed in. Using the following tabular analysis, show the effect of each transaction on the
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