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Following are transactions of Hoosier, Incorporated, a new company, during the month of January: ...

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Accounting

Following are transactions of Hoosier, Incorporated, a new company, during the month of January:
Issued 10,000 shares of common stock for $15,000 cash.
Purchased land for $12,000, signing a note payable,for the full amount.
Purchased office equipment for $1,200 cash.
Received cash of $14,000 for services provided to customers during the month.
Purchased $300 of office supplies on account.
Paid employees $10,000 for their first month's salaries.
How many of these transactions have a net effect of decreasing Hoosier total assets?
Three
Four
Two
One
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