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The balance sheet makes sure that the finances are in balance.
Below is a list of Thyme Advertising Company, Inc. transactions.
Each of these is affected differently.
• 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.