Following the example shown in

(a) below, indicate the effects of the listed transactions on the assets, liabilities, and stockholders' equity of Martin Andrews \& Company.

a. Rendered legal services to clients for cash.

ANSWER: Increase assets (Cash) 

Increase stockholders' equity (increase Revenue)

b. Purchased office supplies on account.

c. Andrews invested cash into the firm and received stock for his investment.

d. Paid amount due on account for office supplies purchased in (b).

e. Borrowed cash from a bank and signed a six-month note payable.

f. Rendered services and billed clients.

g. Purchased, for cash, a desk lamp for the office.

h. Paid interest on a note payable to the bank.

i. Received invoice for the current month's utilities.