Chapter 3 example 1 - Accounting-6th ed Problem 3-2B Ned Walz started his own delivery service Walz Service Inc on June 1 2017 The following

Chapter 3 example 1 - Accounting-6th ed Problem 3-2B Ned...

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Accounting-6 th ed Problem 3-2B Ned Walz started his own delivery service, Walz Service Inc., on June 1, 2017. The following transactions occurred during the month of June. June 1 Stockholders invested $20,000 cash in the business in exchange for common stock. June 2 Purchased a used van for deliveries for $10,000. Walz paid $2,000 cash and signed a note payable for the remaining balance. June 3 Paid $600 for office rent for the month. June 5 Performed $3,000 of services on account. June 9 Paid $300 in cash dividends. June 12 Purchased supplies for $240 on account. June 15 Received a cash payment of $1,000 for services provided on June 5. June 17 Received a bill for $200 to cover advertisements in Tri-State NewsJune 20 Received a cash payment of $1,500 for services performed. June 23 Made a cash payment of $1,000 on the note payable. June 26 Paid $180 for utilities. June 29 Paid for the supplies purchased on account on June 12. June 30 Paid $750 for employee salaries. Instructions(a) Show the effects of the previous transactions on the accounting equation using the following format. .

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