Speedy Delivery Service is owned and operated by Kris Meyers. The following selected transactions were completed by Speedy Delivery during March:

Question

Indicate the effect of each transaction on the following accounting equation elements (Assets, Liabilities, Common Stock, Dividends, Revenue, and Expense). Also indicate the specific item within the accounting equation element that is affected. To illustrate, the answer to (1) follows:

1) Asset (Cash) increases by $30,000; Common Stock increases by $30,000.

Answer 1

Sure! Please provide the list of transactions completed by Speedy Delivery during March, and I will help you analyze the effects of each transaction on the accounting equation elements.