Question: Using the accounting equation for transaction analysis Meg Clifford opened a public relations firm called Dance Fever on August 1, 2016. There following amounts summarize

 Using the accounting equation for transaction analysis Meg Clifford opened a

Using the accounting equation for transaction analysis Meg Clifford opened a public relations firm called Dance Fever on August 1, 2016. There following amounts summarize her business on August 31, 2016: During September 2016, the business completed the following transactions: a. Meg Clifford contributed $13,000 cash in exchange for common stock. b. Performed service for a client and received cash of $ 1, 200. c. Paid off the beginning balance of accounts payable. d. Purchased office supplies from OfficeMax on account, $1,000. e. (Collected cash from a customer on account, $1, 500. f. Cash dividends of $1, 900 were paid to stockholders. g. Consulted for a new band and billed the client for services rendered, $6,000. h. Recorded the following business expenses for the month: Paid office rent: $1, 400. Paid advertising: $350. Analyze the effects of the transactions on the accounting equation of Dance Fever using the format presented above

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