During 2025, its first year of operations as a delivery service, Cullumber Corp. entered into the following transactions.
1. Issued shares of common stock to investors in exchange for $145,000 in cash.
2. Borrowed $48,000 by issuing bonds.
3. Purchased delivery trucks for $54,000 cash.
4. Received $16,000 from customers for services performed.
5. Purchased supplies for $4,300 on account.
6. Paid rent of $4,800.
7. Performed services on account for $11,600.
8. Paid salaries of $27,200.
9. Paid a dividend of $10,000 to stockholders.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to
Stockholders' Equity in the far-right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative
sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
