$($Click the icon to view the amounts.$)$ Question $1$

Analyze the effecs of the transactions on the accounting equation of

Solid Gold.

Data table Meg McKinney opened a public relations firm called Solid Gold on August $1,$

The following amounts summarize her business on August $31,2024$:

$($Click the icon to view the amounts.$)$

During September $2024,$ the business completed the

following transactions:

$($i$)($Click the icon to view the transactions.$)$

Analyze the effects of the transactions on the accounting equation of

Solid Gold.

The beginning balances given in the question have been entered for you. Analyze the events chronologically, one transaction at a time. Beginning with

transaction a$.,$ calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. $($Complete only the necessary

answer boxes for your transaction lines. $[$Do not enter any zeros for your transaction lines.$]$ Carry down all balances to the "Bal." line, including zero

balance accounts, entering a $"0"$ for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A$/$P $=$

Accounts Payable; A$/$R $=$ Accounts Receivable; Adv. $=$ Advertising; Com. $=$ Common; Contr. $=$ Contributed; Div. $=$ Dividends; Exp. $=$ Expense; Liab $=$ Liabilities;

Rev. $=$ Revenue; Sup. $=$ Supplies.

Analyze the effects of the transactions on the ac

Solid Gold.

More info

nting equation. $($Complete $c$

lances to the "Bal." line, inc

parentheses. Abbreviations

iv$.=$ Dividends; Exp. $=$ Exp

a$.$ Received contribution of $$17,000$ cash from Meg McKinney 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 supplies from OfficeMax on account, $$1,200.$

e$.$ 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.$