Missy Mansion opened a public relations firm called Solid Gold on August 1, 2016.
The following amounts summarize her business on August 31, 2016:

During September 2016, the business completed the following transactions:
a. Missy Mansion contributed $8,000 cash in exchange for common stock.
b. Performed service for a client and received cash of $1,300.
c. Paid off the beginning balance of accounts payable.
d. Purchased office supplies from OfficeMax on account, $400.
e. Collected cash from a customer on account, $2,200.
f. Cash dividends of $1,800 were paid to stockholders.
g. Consulted for a new band and billed the client for services rendered, $6,500.
h. Recorded the following business expenses for the month:
Paid office rent: ....$1,400
Paid advertising: ... $350
Analyze the effects of the transactions on the accounting equation of Solid Gold using the format presented in above equation.

Transcribed Image Text:

ASSETS LIABILITIES + EQUITY Contributed Capital+ Retained Earnings Cash Accounts Office Land Receivable Supplies Accounts Common -Dividends Service Rent - Advertising Payable Stock Revenue Expense Expense +$2,600 Bal. $2,400$2,6000 $15,000 $3,000$14,400