The following selected transactions were completed by

Reuben s Delivery Service

The following selected transactions were completed by Reuben's Delivery Service during
October:1. Received cash from owner in exchange for capital stock, $20,000.2. Purchased
supplies for cash, $900.3. Paid rent for October, $3,000.4. Paid advertising expense, $2,500.5.
Received cash for providing delivery services, $23,100.6. Billed customers for delivery services
on account, $41,750.7. Paid creditors on account, $4,500.8. Received cash from customers on
account, $36,200.9. Determined that the cost of supplies on hand was $175 and $725 of
supplies had been used during the month.10. Paid dividends, $1,000.Indicate the effect of each
transaction on the accounting equation by listing the numbers identifying the transactions, (1)
through (10), in a column, and inserting at the right of each number the appropriate letter from
the following list:a. Increase in an asset, decrease in another asset.b. Increase in an asset,
increase in a liability.c. Increase in an asset, increase in stockholders' equity.d. Decrease in an
asset, decrease in a liability.e. Decrease in an asset, decrease in stockholders' equity.View
Solution:
The following selected transactions were completed by Reuben s Delivery Service
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