Missy Collins opened a public relations firm called Top 40 on August 1, 2014. The following amounts summarize her business on August 31, 2014:

During September 2014, the business completed the following transactions:
a. Missy Collins contributed $ 10,000 cash in exchange for common stock.
b. Performed service for a client and received cash of $ 1,000.
c. Paid off the beginning balance of accounts payable.
d. Purchased office supplies from OfficeMax on account, $ 700.
e. Collected cash from a customer on account, $ 500.
f. Cash dividends of $ 1,900 were paid to stockholders.
g. Consulted for a new band and billed the client for services rendered, $ 5,800.
h. Recorded the following business expenses for the month:
Paid office rent: $ 900.
Paid advertising: $ 400.
Analyze the effects of the transactions on the accounting equation of Top 40 using the format presentedabove.

  • CreatedJanuary 16, 2015
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