Exercise 1-12 (Algo) Analysis using the accounting equation LO P1 Zen began a new consulting firm on January 5. The accounting equation showed the following financial summary for each of the company's first five transactions. Analyze the accounting equation for each transaction and match the given transaction with its most likely description. Assets Accounts Transaction 1. Cash $ 44,000 + + Receivable + Supplies + Equipment Liabilities + Accounts Payable + Equity Common Stock +Revenues $ 0 + $ 0 + $ 0 $ 0 + $ 44,000 $ 0 2. 3. 38,000 + 0 + 11,000 26,000+ 0 + 11,000 26,000 + 10,000 + 11,000 31,000+ 10,000 11,000 12,000 12,000 12,000 5,000 + 5,000 + 5,000 + 5,000 + 44,000+ 44,000+ 0 44,000 + 0 44,000+ 10,000 15,000 Transaction 1. 2. 3. 4. 5. Description