Emalee Shepsle opened a public relations firm called Rock Star on August 1, 2025. The following amounts summarize her business on August 31, 2025:

During September 2025, the business completed the following transactions:

a. Shepsle contributed \($10,000\) cash in exchange for capital.

b. Performed service for a client and received cash of \($1,000\).

c. Paid off the beginning balance of accounts payable.

d. Purchased supplies from OfficeCo. on account, \($700\).

e. Collected cash from a customer on account, \($500\).

f. Shepsle withdrew \($1,900\).

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 Rock Star using the format presented in Exhibit F:1-5.

Transcribed Image Text:

ASSETS Cash + Accounts +Supplies+ Land Receivable Bal. $2,100+ $2,000 + $0 + $10,000 LIABILITIES + Accounts + Shepsle, Payable Capital $6,000 + $6,100 EQUITY Shepsle, +Service Rent -Advertising Withdrawals Revenue Expense Expense + $2,000