Green Wave Company plans to own and operate a storage rental facility.
Required:
points
For the first month of operations, the company had the following transactions. For each transaction, describe the dual effect on the accounting equation. For example, in the first transaction, assets increase and stockholders' equity increases.
table Transactions,Dual Effect Issue shares of common stock in exchange for $ in cash.,Assets increase and stockholders' equity increases. Purchase land for $ A note payable is signed for the full amount.,Assets increase and stockholders' equity increases Purchase storage container equipment for $ cash.,Assets increase and liabilities increase. Hire three employees for $ per month., Receive cash of $ in rental fees for the current month.,table Purchase office supplies for $ on account. Pay employees $ for the first month's salariesAssets decrease and stockholders' equity decreases. Pay employees $ for the first month's salaries.,tableAssets increase and liabilities increase.Assets increase and stockholders' equity increases.No effect
