a. A business transaction to be accounted for by the business. b. A business-related event but not a transaction to be accounted for by the business at this time c. A personal transaction not to be accounted for by the business. Jan. 4 Lamy received $260,000 cash from his former partners in the firm from which he resigned. 5 Lamy invested $210,000 cash in his business. 5 The business paid office rent expense for the month of January, $3,000. 6 The business paid $1,200 cash for letterhead stationery for the office. 7 The business purchased office furniture for the office on account for $7,000, promising to pay within six months. 10 Lamy sold 2,000 shares of Royal Bank stock, which he had owned for several years, receiving $31,000 cash from his stockbroker. 11 Lamy deposited the $31,000 cash from sale of the Royal Bank shares in his personal bank account. 12 A representative of a large construction company telephoned Lamy and told him of the company's intention to transfer its accounting work to Lamy's business. 29 The business performed an audit for a client and submitted the bill for services, $16,000. The business expected to collect from this client within two weeks. 31 Lamy withdrew $4,400 cash from the business, . = Requirement 2. Analyze the effects of the events on the accounting equation of the business. Complete an analysis of the transactions for each date shown, and then total the balance of each account at the bottom. Leave cells blank on any personal transactions: (Complete only the necessary answer b for your transaction lines. Enter decreases with a minus sign or parentheses. Complete the analysis in the order in which the transactions are given. Include the type of owner's equity transaction fc transactions that affect owner's equity.) Assets Liabilities + Owner's Equity Accounts Office Office Accounts J. Lamy, Type of Owner's Date Cash Receivable Supplies Furniture = Payable Capital Equity transaction Jan. 4 260000 + 260000 5 + + + + + + + + + + + 5 + + + = + 6 + + 7 + + + + + + + + + + + 10 + = + + + + + + + 11 + = + 12 + + 29 + 31 + + + (N) D (M) SURD XO O Bal. + + +