Answer:
Explanation:
1. Received cash from the owner as additional investment, $25,000. - C
As both sides of the balance sheet would be increased i.e the cash and the owner equity.
2. Purchased supplies for cash, $750. - A
As supplies are purchased for cash which increases the supplies balance and decreases the cash balance on the other side.
3. Paid rent for February, $3,000. - E
In this transaction, the cash balance is decreased and equity balance is also decreased
4. Paid advertising expense, $1,500 - E
In this transaction, the cash balance is decreased and equity balance is also decreased
5. Received cash for providing delivery services, $16,800. - C
In this transaction, the cash balance is increased and equity balance is also increased
6. Billed customers for delivery services on account, $32,500 - C
In this transaction, the cash balance is increased and equity balance is also increased
7. Paid creditors on account, $1,400 - D
In this transaction, the cash balance is decreased and creditors balance is also decreased
8. Received cash from customers on account, $23,770. - A
In this transaction, the cash balance is increased and account receivable balance is decreased
9. Determined that the cost of supplies on hand was $275 and $475 of supplies had been used during the month. - E
In this transaction, the supplies balance is decreased and equity balance is also decreased (supplies expense)
10. Paid cash to the owner for personal use, $5,000 - E
In this transaction, the cash balance is decreased and equity balance is also decreased (owner capital)
