Question

This is the same question, I also attached exhibit 1-6.

P1-40A Using the accounting equation for transaction analysis Learning Objective 4 Meg McKinney opened a public relations firm called Solid Gold on August 1, 2018. The following amounts summarize her business on August 31, 2018: Cash $13,600 ASSETS LIABILITIES EQUITY Contributed Capital + Retained Earnings Cash +Accounts Office Land Receivable Supplies Accounts Common Dividends Service Rent Advertising Payable Stock Revenue Expense Expense $3,200 Bal. $1,900$3,200 $0 +$15,000 $5,000 + $11,900

Answer 1

P1-40A)
Accounting Equation analysis of the effect of transaction during Sept :
	Assets				Equal to	Liabilities	Equity
	Cash+	AR+	Off.Sup.+	Land	Equal to	AP+	CS -	Dividend	Service Rev -	Rent exp -	Advert exp
Bal.	1900	3200		15000	Equal to	5000	11900		3200
a	17000				Equal to		17000
Bal.	18900	3200	0	15000	Equal to	5000	28900	0	3200	0	0
b	800				Equal to				800
Bal.	19700	3200	0	15000	Equal to	5000	28900	0	4000	0	0
c	-5000				Equal to	-5000
Bal.	14700	3200	0	15000	Equal to	0	28900	0	4000	0	0
d			1200		Equal to	1200
Bal.	14700	3200	1200	15000	Equal to	1200	28900	0	4000	0	0
e	2000	-2000			Equal to
Bal.	16700	1200	1200	15000	Equal to	1200	28900	0	4000	0	0
f	-1600				Equal to			-1600
Bal.	15100	1200	1200	15000	Equal to	1200	28900	-1600	4000	0	0
g		4500			Equal to				4500
Bal.	15100	5700	1200	15000	Equal to	1200	28900	-1600	8500	0	0
h	-1500				Equal to					-1000	-500
Balance	13600	5700	1200	15000	Equal to	1200	28900	-1600	8500	-1000	-500
G. Total				35500	Equal to	35500