Consulting began operations and completed the following transactions during December, 2016

Requirement 1. Analyze the effects of DraperDraper

Consulting's transactions on the accounting equation.

Analyze the events chronologically, one transaction at a time. Beginning with the second transaction on the 2nd, calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] If an event has no effect on the accounting equation, leave the transaction line blank. Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. When more than one transaction occurs on the same date, enter the transactions into the accounting equation in the same order as shown in the question. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Com. = Common; Contr. = Contributed; Div. = Dividends; Equip = Equipment; Exp. = Expense; Furn. = Furniture; Off. = Office; Rev. = Revenue; Serv. = Service; Sup. = Supplies; Util. = Utilities; Un. = Unearned.)