Problem: Analyze the effect of the following transactions for Sidhu Advertising Company, Inc.
1. Issued commmon stock to investors in exchange for cash received from investors.
2. Paid monthly rent
3. Received cash from customers when service was rendered.
4. Billed customers for services performed.
5. Paid dividend to stockholders.
6. Incurred advertising expense on account.
7. Received cash from customers billed in (4).
8. Purchased additional equipment for cash.
9. Purchased equipment on account.