Chase Turner started a new business. Turner Gymnastics, and completed the following transactions during December: (Click the icon to view the transactions.) Analyze the effects of the transactions on the accounting equation of Tumer Gymnastics. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense. Utilities Expense, Wages Expense, and Advertising Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows the transaction on the 1st, calculate the balance in each account after analyzing its effect 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 "O" 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: Com. Common: Contr. Contributed; Div Dividends; Exp. Expense; Liab, Liabilities Off. Office; Sal Salaries; Serv Rev Service Revenue; Sup. Supplies: Util. Utility) Assets Equity 12/1 Liab + Contr Capital Retained Eamings Cash A/R Off -A/P Com Div + Serv -Rent -Util. Sal -Adv. Sup Stock Rev Exp Exp. Exp Exp Help me solve this Demodocs example Get more help- Clear all Check answer