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1. Jill Smith opens an apartment-locater business near a college campus. She is the sole owner of the proprietorship, which she names Campus Apartment Locators.
1. Jill Smith opens an apartment-locater business near a college campus. She is the sole owner of the proprietorship, which she names Campus Apartment Locators. During the first month of operations, July 2019, she engages in the following transactions: a. Smith invests $35,000 of personal funds to start the business. b. She purchases some office supplies on account costing $350. c. Smith pays cash of $30,000 to acquire a lot next to the campus. She intends to use the land as a future building site for her business office. d. Smith locates apartments for clients and receives cash of $1,900. e. She pays $100 on the account payable she created in the transaction (b). f. She pays $2,000 of personal funds for a vacation. g. She pays cash expenses for office rent, $400, and utilities, $100. h. The business sells office supplies to another business for its cost of $150. i. Smith withdraws cash of $1,200 for personal use. Your task is to analyze the preceding transactions in terms of their effects on the accounting equation of the company and fill the table below
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