Selected Transactions Completed by a Corporation Are Described Below

Essay

Selected transactions completed by a corporation are described below. Indicate the effects of each transaction on assets, liabilities, and stockholders' equity by inserting "+" for increase and "−" for decrease in the appropriate columns at the right. If appropriate, you may insert more than one symbol in a column. $\begin{array} { lll } &A&L\\\text {a) Received cash from sale of common stock }&\_\_\_&\_\_\_\\\text {b) Purchased supplies on account }&\_\_\_&\_\_\_\\\text {c) Paid rent for the current month }&\_\_\_&\_\_\_\\\text {d) Received cash for services sold to customers}&\_\_\_&\_\_\_\\\text {e) Returned some defective supplies purchased in b)}&\_\_\_&\_\_\_\\\text {f) Paid insurance premiums in advance}&\_\_\_&\_\_\_\\\text {g) Paid cash to creditor for purchases in b)}&\_\_\_&\_\_\_\\\text {h) Charged customers for services sold on account}&\_\_\_&\_\_\_\\\text {i) Paid cash to a customer as a refund for an overcharge}&\_\_\_&\_\_\_\\\text {j) Received cash on account from customers}&\_\_\_&\_\_\_\\\text {k) Payment of dividends}&\_\_\_&\_\_\_\\\text {1) Recorded the cost of supplies used during the year}&\_\_\_&\_\_\_\\\text {m) Received invoice for electricity used}&\_\_\_&\_\_\_\\\text {n) Paid wages}&\_\_\_&\_\_\_\\\text {o) Purchased a truck for cash}&\_\_\_&\_\_\_\\\end{array}$