Several years ago, Mary Emerson founded Emerson Consulting Inc., a consulting business specializing in financial planning for young professionals. The following captions and amounts summarize Emerson Consulting's balance sheet at December 31, 2018, the beginning of the current year:

During January 2019, the following transactions occurred:
a. Issued common stock to a new stockholder in exchange for $12,000 cash.
b. Performed advisory services for a client for $3,850 and received the full amount in cash.
c. Received $925 on account from a client for whom services had been performed on credit.
d. Purchased supplies for $1,140 on credit.
e. Paid $875 on accounts payable.
f. Performed advisory services for $2,980 on credit.
g. Paid cash of $1,350 for secretarial services during January.
h. Paid cash of $800 for January's office rent.
i. Paid utilities used in January 2019 in the amount of $1,340.
j. Paid a dividend of $500.
Required:
1. Record the effects of the transactions listed above on the accounting equation for the business.
Use the format given in the problem, starting with the totals at December 31, 2018.
2. Prepare the trial balance at January 31, 2019.

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Assets Accounts Liabilities Notes Equity Retained Accounts Common Stock Cash Payable 1,000 Receivable Supplies 4,800 Payable 500 Earnings 2,900 %3D 3,000 6,600 10,000