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  3. problem #1: during 2018, its first year of operati

Problem #1: During 2018, its first year of operations as a delivery service, Icelandic Corp,...

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Accounting

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Problem #1: During 2018, its first year of operations as a delivery service, Icelandic Corp, entered into the following transactions: 1. Issued shares of common stock to investors in exchange for $150,000 in cash. 2. Borrowed $25,000 by Issuing bonds (long-term debt). 3. Purchased delivery trucks for $50,000 cash. 4. Received $18,000 from customers for services performed. 5. Purchased supplies for $4,900 on account 6. Pald rent of $5,100 7. Performed services on account for $10,000 8. Paid salaries of $17,000 9. Paid a dividend of $1,500 to shareholders. Required: Complete the following chart including identify whether the transaction is an operating, investing, or financing activity ASSETS LIABILITIES SHAREHOLDERS' EQUITY O, LF Accounts Accounts LT Common Betained Eamins Activity Cash + Bes ble Supplies - Equipment Payable Stock Revenues Expenses Dividends Debt + 1. 2 3. 5. 6 7 8. 9. Totals

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