EF 212 - INTRODUCTION TO ACCOUNTING / HANDOUT 1 Q1. The Jiffy Messenger Company was founded by Hector Moreno on December 1 and engaged in the following transactions: a) Deposited $9,000 in a bank account established in the name of Jiffy Messenger Company to start the business. b) Purchased a motorbike on credit, $3,100. c) Purchased delivery supplies for cash, $200. d) Billed a customer for a delivery, $100. e) Received delivery fees in cash, $300. f) Made a payment on the motorbike, $700. g) Paid repair expense, $120. h) Received payment from customer billed in transaction d, $50. i) Withdrew cash for personal expenses, $150. 1) Additional investment by owner, $1,000, 1. Arrange the following asset, liability and owner's equity accounts in the accounting equation: Cash, Accounts Receivable, Delivery Supplies, Motorbike, Accounts Payable and Hector Moreno, Capital. 2. Show by addition and subtraction, the effects of the transactions on the accounting equation. Show new balances after each transaction, and identify each owner's equity transaction by type