Create a table similar to Exhibit 1.9. Then use additions and subtractions to show the dollar effects of each transaction on individual items of the accounting equation.

a. The company completed consulting work for a client and immediately collected $5,500 cash.

b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days.

c. The company paid an assistant $1,400 cash as wages for the period.

d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b.

e. The company paid $700 cash for this period’s cleaning services.

Exhibit 1.9.

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Assets Liabilities Equity Cash Accounts Accounts Common Dividends Revenues Expenses Receivable Payable Stock