Question
Christine Ewing started a public accounting firm. During the first month of operations of the business (as a corporation), the following events and transactions occurred:
Christine Ewing started a public accounting firm. During the first month of operations of the business (as a corporation), the following events and transactions occurred: 1 shareholders Invested $30,000 cash and equipment valued at $14,000 in the business in exchange for ordinary shares. 4 Purchased supplies on account $700. 6 Hired a secretary-receptionist at a salary of $ 1,160. 7 Paid office rent of $600 for the month. 11 Received cash of $2,300 for services completed for Ferengi Co. 13 Completed a tax assignment and billed client $1,100 for services provided. 30 Paid secretary-receptionist $1,160 for the month. 30 Paid dividends of $500 to shareholders. Required: Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting
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