Cosmo Timmins started new business, Timmins 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 Timmins Gymnastics Analyze the events chronologically, one transaction at a time. Beginning with the transaction on the 2nd, calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. Enter each transaction from the 28th on separate lines and in the same order as presented in the problem statement. (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; AIR = Accounts Receivable; Adv. = Advertising; Cap. = Timmins, Capital; Exp. = Expense; Liab. = Liabilities; Off. Sup. = Office Supplies; Sal. = Salaries; Serv. Rev. = Service Revenue; Util. = Utility; Withdr. = Timmins, Withdrawals.) ASSETS LIAB. Cash + AIR + Off. A/P + . - Withdr. EQUITY Rent Exp. - Util. Sal. + Serv Rev Adv. Sup Exp Exp Exp 12/1 + Cosmo Timmins started new business, Timmins 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 Timmins Gymnastics Analyze the events chronologically, one transaction at a time. Beginning with the transaction on the 2nd, calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. Enter each transaction from the 28th on separate lines and in the same order as presented in the problem statement. (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; AIR = Accounts Receivable; Adv. = Advertising; Cap. = Timmins, Capital; Exp. = Expense; Liab. = Liabilities; Off. Sup. = Office Supplies; Sal. = Salaries; Serv. Rev. = Service Revenue; Util. = Utility; Withdr. = Timmins, Withdrawals.) ASSETS LIAB. Cash + AIR + Off. A/P + . - Withdr. EQUITY Rent Exp. - Util. Sal. + Serv Rev Adv. Sup Exp Exp Exp 12/1 +
