Accounting equation and financial transactions

Exercise 1 It creates a table in MS Excel with each of the following accounts and indicates its effect on the accounting equation.

On February 1, 2020, Miguel Toro established a home rental business under the name Miguel's Rentals. During the month of March, the following transactions were recorded:

To open the business, he deposited $60,000 of his personal funds as an investment. He purchased equipment for $6,000 on credit. He bought office supplies for $1,500 in cash. He received income from renting a property for $3,500 in cash. He paid utilities for $800.00.

Exercise 2 Create a table in Excel, analyze the following transactions, and indicate which account increases and the account decreases, or whether both accounts decrease or both accounts increase. It also indicates how the accounting equation is affected.

Cash is received for investment in the business of $80,000. Rent for the month is paid for $2,200 in cash. Office supplies are purchased for $600.00 in cash. Office equipment is purchased on credit for $4,000. Work is done to a client on credit for $2,500.

Exercise 3 It creates a table in MS Excel with each of the following accounts and indicates its effect on the accounting equation.

It creates a table in MS Excel with each of the following accounts and indicates its effect on the accounting equation. To open the business, he deposited $45,000 of his personal funds as an investment. He bought office supplies for $1,000 on credit. He received income from providing a service for $2,000 in cash.

He paid utilities for $400.00. He paid $300 for supplies purchased on credit. He received $4,000 in cash from service. Provided customer service for $3,000 on credit. He paid wages of $1,800 to an employee. He made a withdrawal of $200.00 for his personal use.