Indicate the effects of the following business transactions on the accounting equation of Viviani Video store. Transaction (a) is answered as a guide.
a. Received cash of $ 8,000 from issuance of common stock.
Answer: Increase asset (Cash); Increase equity (Common Stock)
b. Earned video rental revenue on account, $ 1,800.
c. Purchased office furniture on account, $ 400.
d. Received cash on account, $ 600.
e. Paid cash on account, $ 100.
f. Rented videos and received cash of $ 300.
g. Paid monthly office rent of $ 900.
h. Paid $ 200 cash to purchase office supplies.