Accounts Retained Earning Common Receivable Equipment Cash Payable Stock Revenues Expenses E3-3 During 2017, its first year of operations as a delivery service, Persimmon Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash. 2. Borrowed $45,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $4,700 on account. 6. Paid rent of $5,200. 7. Performed services on account for $10,000. 8. Paid salaries of $28,000. 9. Paid a dividend of $11,000 to shareholders. Determine e on basic ac (LO 1), AP 001.0 Instructions Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the right-hand margin. Use Illustration 3-3 (page 99) as a model.

Balance Sheet Baggett Company's balance sheet accounts and amounts as of December 31, 2016, are shown in random order as follows: Account Debit (Credit) Account Debit (Credit) Income Taxes Payable $(3,800) Additional Paid-in Capital on Preferred Prepaid Items 1,800 Stock $(7,900) Additional Paid-in Capital on Common Stock (9,300) Allowance for Doubtful Accounts (1,600) Land 12,200 Bonds Payable (due 2020) (23,000) Notes Payable (due 2019) (6,000) Buildings 57,400 Notes Receivable (due 2018) 16,400 Sinking Fund to Retire Bonds Payable 5,000 Accounts Receivable 12,600 Advances from Customers (long-term) (2,600) Premium on Bonds Payable (1,400) Cash 4,300 Accounts Payable (13,100) Accumulated Depreciation: Equipment (9,700) Inventory 7,400 Retained Earnings (18,300) Accumulated Depreciation: Buildings (21,000) Preferred Stock, $100 par (18,600) Patents (net) 4,600 Wages Payable (1,400) Equipment 28,700 Common Stock, $10 par (12,700) Required: 1. Prepare a December 31, 2016 balance sheet…

Following is the balance sheet for 3M Company. At December 31 2015 2014 Cash and cash equivalents $ 1,798 $ 1,897 Marketable securities-current 118 1,439 Accounts receivable, net 4,154 4,238 Inventories 3,518 3,706 Other current assets 1,398 1,023 Total current assets 10,986 12,303 Marketable securities-noncurrent 126 117 Property, plant and equipment--net 8,515 8,489 Goodwill 9,249 7,050 Intangible assets-net 2,601 1,435 Prepaid pension benefits 188 46 1,053 $32,718 1,769 $31,209 Other assets Total assets $ $ Short-term debt & current portion of LT debt Accounts payable 2,044 106 1,694 1,807 Accrued payroll 644 732 Accrued income taxes 332 435 Other current liabilities 2,404 2,884 Total current liabilities 7,118 5,964 Long-term debt 8,753 6,705 Pension and postretirement benefits 3,520 3,843 Other liabilities 1,580 1,555 Total liabilities 20,971 18,067 3M Company shareholders' equity: Common stock 9. Additional paid-in capital Retained earnings 4,791 4,379 36,575 34,317 Treasury stock…

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