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:

During July, the following occurred:

a. Collected $800 from a credit customer.

b. Paid $2,500 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; $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).

Transcribed Image Text:

Equity Liabilitles Assets Explanation of Equity Transaction Accounts Natalie Gold, Capital Accounts Payable + Receivable + Supplies Cash + Equipment $1,900 $6,000 + $1,200 $6,500 $4,000 $11,600