Presented below are a number of transactions. Determine whether each transaction affects:
Common stock
Dividends
Revenue
Expense
Does not affect stockholders’ equity
Provide titles for the revenues and expenses. (The first one is completed for you as an example.)
Transaction
(a) Costs incurred for advertising.
(b) Assets received for services performed.
(c) Costs incurred for insurance.
(d) Amounts paid to employees.
(e) Cash distributed to stockholders.
(f) Assets received in exchange for the use of the company’s building.
(g) Costs incurred for utilities used.
(h) Cash purchase of equipment.
(i) Issued common stock for cash.