Bombeck Inc. has the following transactions during August of the current year.

Indicate (a) the effect on the accounting equation and (b) the debit-credit analysis.

Aug. 1 Opens an office as a financial advisor, investing $6,000 in cash in exchange for common stock

4 Pays insurance in advance for 6 months, $1,950 cash.

16 Receives $2,300 from clients for services performed.

27 Pays secretary $1,590 salary.

(a)Effect on Accounting Equation

(b)Debit-Credit Analysis

Aug. 1The asset

is

Increased

Decreased

;Debits

Decrease Stockholders' Equity

Increase Revenues

Increase Stockholders' Equity

Decrease Assets

Decrease Revenues

Decrease Expenses

Increase Assets

Increase Expenses

thestockholders' equityaccount

is

Increased

Decreased

.Debit

$

Credits

Increase Expenses

Decrease Stockholders' Equity

Decrease Expenses

Increase Assets

Increase Stockholders' Equity

Decrease Assets

Increase Revenues

Decrease Revenues

Credit

$

Aug. 4The asset

is

Increased

Decreased

;Debits

Increase Expenses

Increase Revenues

Decrease Stockholders' Equity

Decrease Revenues

Decrease Expenses

Increase Assets

Increase Stockholders' Equity

Decrease Assets

the asset

is

Increased

Decreased

.Debit

$

Credits

Increase Assets

Increase Expenses

Decrease Revenues

Decrease Expenses

Increase Stockholders' Equity

Decrease Assets

Increase Revenues

Decrease Stockholders' Equity

Credit

$

Aug. 16 The asset

is

Increased

Decreased

;Debits

Decrease Revenues

Decrease Expenses

Increase Expenses

Decrease Stockholders' Equity

Increase Revenues

Increase Assets

Increase Stockholders' Equity

Decrease Assets

the revenue

is

Increased

Decreased

.Debit

$

Credits

Decrease Expenses

Decrease Stockholders' Equity

Increase Assets

Increase Stockholders' Equity

Decrease Assets

Increase Revenues

Increase Expenses

Decrease Revenues

Credit

$

Aug. 27The expense

is

Increased

Decreased

;Debits

Decrease Assets

Decrease Stockholders' Equity

Increase Stockholders' Equity

Decrease Revenues

Increase Revenues

Increase Expenses

Decrease Expenses

Increase Assets

the asset

is

Increased

Decreased

.Debit

$

Credits

Decrease Expenses

Increase Assets

Increase Revenues

Increase Expenses

Decrease Stockholders' Equity

Increase Stockholders' Equity

Decrease Assets

Decrease Revenues

Credit

$