Bridgeport Delivery Service is owned and operated by Jerome Foley. The following selected…

Bridgeport Delivery Service is owned and operated by Jerome Foley. The following selected transactions were completed by Bnidgeport Delivery Service during February Indicate the effect of each transection on the accounting equation elements (Assets, Labilities, Owner’s Equlty). Also Indicate the speciic account within the accounting equation element that is affected. To ilustrate, the answer to (1) follows (1) Asset (Cash) increases by $40,000, Ownerts Equity (erome Foley, Capital) increases ty $40,000 Direction Increases Jerome Foley, Capital ncreases Item Element Asset Owner’s Equity Cash 1.

Bridgeport Delivery Service is owned and operated by Jerome Foley. The following selected transactions were completed by Bnidgeport Delivery Service during February Indicate the effect of each transection on the accounting equation elements (Assets, Labilities, Owner’s Equlty). Also Indicate the speciic account within the accounting equation element that is affected. To ilustrate, the answer to (1) follows (1) Asset (Cash) increases by $40,000, Ownerts Equity (erome Foley, Capital) increases ty $40,000 Direction Increases Jerome Foley, Capital ncreases Item Element Asset Owner’s Equity Cash 1. Received cash from owner as addtional Investment, $40,00o 2Biled customers for delivery services en account, $13,750 3. Paid creditors on account, $2,500 Received cash from customers on account, $9,000 5. Paid cash to owner for personal use, $1,000,

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