ACC 1003 Financial Accounting Topic 1- Accounting in Business Exercises- Accounting Equation 2. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days) d. The company completed work for a client and immediately collected the $2,500 cash eamed. e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days 1. The company purchased additional equipment for $6,000 cash. & The company paid an assistant $3,000 cash as wages for the month. h. The company collected $5,000 cash as a partial payment for the amount owed by the client in transaction. i. The company paid $10,000 cash to settle the liability created in transaction c. j Owner withdrew $1,000 cash from the company for personal use. Assets Liabilities + Owner's Equity Cash Receivables Supplies Equipment Payables + Capital Drawing Revenue Expenses F