Analyze the effects of the transactions on the accounting equation of

Solid GoldSolid Gold.

Assets

=

Liabilities

+

Equity

Cash

+

Accounts

+

Office

+

Land

=

Accounts

+

Crone,

-

Crone,

+

Service

-

Rent

-

Advertising

Receivable

Supplies

Payable

Capital

Withdrawals

Revenue

Expense

Expense

Bal.

$2,400

+

$2,400

+

$0

+

$13,000

=

$6,000

+

$11,800

CroneCrone

owns and operates a public relations firm called

Solid GoldSolid Gold.

The following amounts summarize her business on August 31,

20142014 :

Analyze the events chronologically, one transaction at a time. Beginning with transaction a., calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. = Advertising; Cap. =

CroneCrone ,

Capital; Exp. = Expense; Liab = Liabilities; Rev. = Revenue; Sup. = Supplies; Withdr. =

CroneCrone ,

Withdrawals.)

Assets

=

Liab.

+

Equity

Cash

+

A/R

+

Office

+

Land

=

A/P

+

Cap.

-

Withdr.

+

Service

-

Rent

-

Adv.

Sup.

Rev.

Exp.

Exp.

Bal.

2,400

2,400

0

13,000

=

6,000

11,800

0

0

0

0

a.

+

+

+

=

+

-

+

-

-

Bal.

+

+

+

=

+

-

+

-

-