Analysis of Transactions Using Accounting Equation For each of the seven separate transactions below, show the impact on the components of the accounting equation. 1. Tax Services Inc. provided $1,200 of tax services on account this period. 2. Eagles Brand Inc. incurred utility costs for this period of $1,020, payable next period. 3. Texako Inc. paid $60,000 in dividends this period that were declared last period 4. Post Corp. purchased equipment at a cost of $30,000 by issuing a note payable. 5. Atlanta Inc. paid $2,640 cash for one year of insurance coverage. 6. Quality Products Inc. paid $9,600 cash for supplies to be used in the next period. 7. Fast Food Inc. paid $3,600 cash for salaries this period. Analysis of Transactions Using Accounting Equation For each of the seven separate transactions below, show the impact on the components of the accounting equation. 1. Tax Services Inc. provided $1,200 of tax services on account this period. 2. Eagles Brand Inc. incurred utility costs for this period of $1,020, payable next period. 3. Texako Inc. paid $60,000 in dividends this period that were declared last period 4. Post Corp. purchased equipment at a cost of $30,000 by issuing a note payable. 5. Atlanta Inc. paid $2,640 cash for one year of insurance coverage. 6. Quality Products Inc. paid $9,600 cash for supplies to be used in the next period. 7. Fast Food Inc. paid $3,600 cash for salaries this period