Analyzing the Effect of Transactions

   Please follow instructions:  I am attaching the spredsheet you will need to fill out  as part of this assignment Please write the 150 word response at the bottom of the spreadsheet  I wll also give you the reading material information  you wll need to find Exercise E 3-1 to do this assignment

Write a minimum 150-word response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing the effect of each transaction on assets, liabilities, and stockholder's equity:

• Selected transactions for Thyme Advertising Company, Inc.
• Issued common stock to investors in exchange for cash received from investors.
  • Paid monthly rent.
  • Received cash from customers when service was performed.
  • Billed customers for services performed.
  • Paid dividend to stockholders.
  • Incurred advertising expense on account.
  • Received cash from customers billed in (4).
  • Purchased additional equipment for cash.
  • Purchased equipment on account.