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Current Attempt in Progress Coronado Petronick decided to start an accounting practice after graduation from university. The following is a list of events that occurred concerning Coronado's practice. 1. 2. 3. 4. 5. 6. After shopping around, Coronado found an office to lease and signed a lease agreement. The lease calls for a payment of $ 1.100 rent per month Coronado borrowed $4,400 from his grandmother so that he could buy some office furniture for his new office. Coronado deposited the $4,400 plus $550 of his own cash in a new bank account at BMO under the name Petronick Accounting Services Paid the landlord the first month's rent Purchased office furniture for $3,630 on account, Moved into the office and obtained the first assignment from a client to prepare year end financial statements for $2.200. Performed the work on the assignment and sent an invoice to the customer for $ 2.200 Paid half of the amount of the purchase of office furniture, Purchased office supplies on account for $ 330 Paid $ 55 cash for Internet services. Collected half of the amounting owing from the customer referred to in 7 Coronado withdrew cash from the business of $ 165 for personal expenses 7 8. 9. 10. 11. 12. Using the table below, insert the amount of the effect of each of these events on the accounting equation(If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Event Asset Liability Owner's Equity 1. $ Using the table below, insert the amount of the effect of each of these events on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset. Liability or Equity item that was reduced.) Event Asset Liability Owner's Equity 1. $ $ 2. 3. I 5. 6. 7. 8. 9. 10. 11 12