5 10 points eBook Print References Exercise 1-15 (Algo) Identifying effects of transactions using the accounting equation LO P1 Ming Chen started a business and had the following transactions in June. a. Owner invested $67,000 cash in the company along with $17,000 of equipment in exchange for its common stock. b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,200 cash. e. The company completed work for a client and sent a bill for $8,900 to be received within 30 days. f. The company purchased additional equipment for $5,600 cash. g. The company paid an assistant $3,200 cash as wages for the month. h. The company collected $5,800 cash as a partial payment for the amount owed by the client in transaction e. i. The company paid $17,000 cash to settle the liability created in transaction c. J. The company paid $1,400 cash in dividends to the owner (sole shareholder). Required: Complete the table using additions and subtractions to show the dollar effects of the transactions on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign.

Exercise 1-15 (Algo) Identifying effects of tronsactions using the accounting equation LO P1 Ming Chen started a business and had the following transactions in June. a. Owner invested $67,000 cash in the company along with $17,000 of equipment in exchange for its common stock b. The company paid $1,500 cash for rent of office space for the month c. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,200cash e. The company completed work for a dient and sent o bill for $8,900 to be recelved within 30 days f. The compary purchased additional equipment for $5,600 cash 9. The company paid an assistant $3,200 cosh as wages for the month h. The company collected $5,800 cash as a partial payment for the amount owed by the client in transaction e. i. The company paid $17,000 cash to settle the liability created in transaction c 1. The company paid $1,400 cash in dividends to the owmer (sole sharehoider) Required: Complete the table using addtions and subtractions to show the dollar effects of the transactions on individual itemis of the account equation Note: Enter decreaces to account bolances with a minus sign