For each of the following activities, indicate what the company owns (the account and effect) and what the company owes (the account and effect) using the fundamental accounting equation. An example is provided. Be sure to answer from the standpoint of the business.

a. Received $10,000 contribution from owner, Alecia Simpson.

b. Purchased a $4,000 computer for use in the business on account.

c. Provided $22,000 of service to customers for cash.

d. Paid employees $15,000 cash.

e. Withdrew $1,200 cash from the business profits.

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Assets- Liabilities +Owner's Equity Example: Borrowed $30,000 from a bank. Cash +30,000 Notes Payable +30,000