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( 1 2 3 Determine the Impact to the accounting equation related to each Transactions transaction Assets increases and Assets decrease Assets increase and liabilities increase Assets increase and liabilities decrease Assets increase and equity increases Assets increase and equity decreases Assets decrease and liabilities increase Assets decrease and liabilities decrease Assets decrease and equity increases Assets decrease and equity decreases Liabilities increase and equity increases Liabilities increase and equity decreases X X X Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. X Jan. 1 Tom and Jerry each contributed 200,000 in exchange for Common Stock of the TJ Corporation, The company purchased equipment worth $20,000 by putting down a 10% payment in cash and taking out a 10-month note 1 payable for the balance. 2 The company prepaid 12 months of rent for $24,000 3 The company purchased supplies for $1,800. 4 The company purchased prepaid insurance for $2,400 for a 6-month policy. 15 The company received $30,000 for 20 service jobs to be completed in the future 16 The company decided they were going to hire an employee for $25 per hour 17 The company performed services worth $8,000 on account (not related to the transaction on Jan 15). 24 The company incurred legal fees worth $1,500 on account. 29The company declared and paid a dividend of $800 in total ($400 to each shareholder) T

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