Below is a list of activities for Purple Cow Incorporated.

Required:
For each activity, indicate the impact on the accounting equation. After doing so for all transactions, ensure that the accounting equation remains inbalance.

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Stockholders' Transaction Assets Liabilities+ Equ 1. Provide services to customers on account, $1,600. +$1,600 $0$1,600 2. Pay $400 for current month's rent. 3. Hire a new employee, who wil be paid $500 at the end of each month 4. Pay $100 for advertising aired in 5. Purchase office supplies for $400 6. Receive cash of $1,000 from 7. Obtain a loan from the bank for 8. Receive a bill of $200 for utility 9. Issue common stock for $10,000 10. Pay $500 to employee in (3) the current period. cash. customers in (1) above $7,000 costs in the current period. cash. above Totals