Question: Using the information provided and the format below, analyze the effects of Lyn Lawn Service's transactions on the accounting equation. (If a box is

Using the information provided and the format below, analyze the effects of Lyn Lawn Service's transactions

Using the information provided and the format below, analyze the effects of Lyn Lawn Service's transactions on the accounting equation. (If a box is not used in the transaction, leave the box empty; do not enter a zero. Enter decreases with a minus sign or parentheses. Abbreviations used: exp. = expense; invest. = investment; rev. = revenue.) Apr. 1 3 5 17 28 Cash Assets = Liabilities + Accounts Accounts + Receivable + Equipment = Payable + 2,900 + + (80) + (320) + 380 + = 1,300 = = = = 1,300 + + + + + Owner's Equity Lyn, Capital 2,900 380 (80) (320) T Explanation Owner invest. Service rev. Gas exp. Withdrawal Transactions Apr. Apr. Apr. Apr. Apr. 1 Received $2,900 and gave capital to Marc Lyn. 3 Purchased a mower on account, $1,300. 5 Performed lawn services for client on account, $380. 17 Paid $80 cash for gas used in mower. 28 Marc Lyn withdrew cash of $320.

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