SOURCES Exercise 3-02 Oriole Company entered into these transactions during May 2022, its first month...
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Accounting
SOURCES Exercise 3-02 Oriole Company entered into these transactions during May 2022, its first month of operations. 1. Stockholders invested $36,000 in the business in exchange for common stock of the company. 2. Purchased computers for office use for $33,300 from Ladd on account. 3. Paid $3,800 cash for May rent on storage space. 4. Performed computer services worth $16,500 on account. 5. Performed computer services for Wharton Construction Company for $3,600 cash. 6. Paid Western States Power Co. $7,700 cash for energy usage in May. 7. Pald Ladd for the computers purchased in (2) 8. Incurred advertising expense for May of $3,000 on account. 9. Received $10,000 cash from customers for contracts billed in (4). Using the following tabular analysis, show the effect of each transaction on he accounting equation. Put explan transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example.) by Study Assets Liabilities
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