Perform basic financial transactions.

Instructions:

Review the information below and answer the questions:

Purpose (of assessment): Perform basic financial transactions. Instructions: Review the information below and answer the questions: Exercise 1-24 Effects of transactions on the accounting equation L06, 7 excel CHECK FIGURE: Natalie Gold, Capital, July 31, 2020 $11,550 Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog services. The June transactions for Vivid Voice resulted in totals at June 30, 2020, as shown in the following accounting equation format: Cash + Accounts Receivable + Supplies Sl,900 + Equipment + $6,500 Liabilities + = Accounts Payable + $4,000 Natalie Gold, Capital $11,600 Explanation of Equ S6,ooo + Sl,200 During July, the following occurred: a. Collected $800 from a credit customer. b. Paid S2,S00 for equipment purchased on account in June. c. Did work for a client and collected cash; $1,100. d. Paid a part-time consultant's wages; $950. e. Paid the July rent; S 1,200. f. Paid the July utilities; $600. g. Performed services for a customer on credit; $1,600. h. Called an information technology consultant to fix the agency's photo editing software in August; it will cost $350. Using the format provided above, show the effects of the activities listed in (a) through (h). For each transaction that affects equity, include a brief description beside it (owner investment, owner withdrawal, revenue, expense).