$44$ chapter $1$

During September $2018,$ the business completed the following transactions:

a$.$ Received contribution of $$17,000$ cash from Meg MeKinney in exchange for common stock.

b$.$ Performed service for a client and received cash of $$800.$

c$.$ Paid off the beginning balance of accounts payable.

d$.$ Purchased office supplies from OfficeMax on account, $$1,200.$

c$.$ Collected cash from a customer on account, $$2,000.$

f$.$ Cash dividends of $$1,600$ were paid to stockholders.

g$.$ Consulted for a new band and billed the client for services rendered, $$4,500.$

h$.$ Recorded the following business expenses for the month:

Paid office rent: $$1,000.$

Paid advertising $$500.$

Analyze the effects of the transactions on the accounting equation of Solid Gold using the format presented in Exhibit $1-6.$

Learning Objective $4,$ P$1-41$A Using the accounting equation for transaction analysis

Cash $$21,500$

Conner Thomas started a new business. Thomas Gymnastics, and completed the following transactions during December:

Dec. $1$ Received $$19,000$ cash from Conner in exchange for common stock.

$2$ Received $$3,800$ cash from customers for services performed.

$5$ Paid $$200$ cash for office supplies.

$9$ Performed services for a customer and billed the customer for services rendered, $$4,500.$

$10$ Recelved $$200$ invoice for utilities due in two weeks.

$15$ Paid for advertising in the local paper, $$250.$

$20$ Paid utility invoice received on December $10.$

$25$ Collected cash in full from customer billed on December $9.$

$28$ Paid rent for the month, $$1,600.$

$28$ Paid $$1,450$ to assistant for wages.

$30$ Received $$1,400$ cash from customers for services performed.

$31.$ Cash dividends of $$3,500$ were paid to stockholders.

Analyze the effects of the transactions on the accounting equation of Thomas Gymnastics

using a format similar to Bxhibit I need the income statement and the balance sheet with the changes of owners equity $1-6.$