Question

Matilda Crone opened a public relations firm called Dance Fever on August 1, 2014. The following amounts summarize her business on August 31, 2014:


During September 2014, the business completed the following transactions:
a. Matilda Crone contributed $ 13,000 cash in exchange for common stock.
b. Performed service for a client and received cash of $ 900.
c. Paid off the beginning balance of accounts payable.
d. Purchased office supplies from OfficeMax on account, $ 600.
e. Collected cash from a customer on account, $ 2,300.
f. Cash dividends of $ 1,600 were paid to stockholders.
g. Consulted for a new band and billed the client for services rendered, $ 5,500.
h. Recorded the following business expenses for the month:
Paid office rent: $ 1,200.
Paid advertising: $ 600.
Analyze the effects of the transactions on the accounting equation of Dance Fever using the format presentedabove.


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  • CreatedJanuary 16, 2015
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