Zen began a new consulting firm on January 5. The accounting equation showed the following balances after each of the company’s first five transactions. Analyze the accounting equation for each transaction and describe each of the five transactions with their amounts.

Assets Liabilities Equity Accounts Office Office Trans- Receiv- Sup- Furni- Accounts Common action Cash able plies ture Payable Stock Revenues

a. $40,000 $ 0 $ 0 $ 0 $ 0 $40,000 $ 0

b. 38,000 0 3,000 0 1,000 40,000 0

c. 30,000 0 3,000 8,000 1,000 40,000 0

d. 30,000 6,000 3,000 8,000 1,000 40,000 6,000

e. 31,000 6,000 3,000 8,000 1,000 40,000 7,000.