Mailin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a small office where she employs one administrative assistant. The following activities occurred during March 2014, her first month of business:

a. Mailin invested $2,500 worth of equipment into her business along with $3,000 cash.
b. Submitted a series of articles to The Globe and Mail and received $6,500 cash.
c. Purchased supplies on credit; $600.
d. Paid the part-time administrative assistant's salary of $1,450.
e. Mailin ordered $3,000 of office equipment from the IKEA catalogue. It is scheduled to arrive in April or May.
f. Paid the rent for the first month; $ 1,400.
g. Submitted an article to Report on Business; will receive $4,500 next month.
Using the format provided below, show the effects of the activities listed in (a) through (g). For each transaction that affects equity, include a brief description beside it (owner investment, owner withdrawal, revenue, expense).

Transcribed Image Text:

Assets Liabilitles Equity Accounts Mallin Moon, Explanation of Cash Receivable +Supplies Equipment Payable CapitalEquity Transaction