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E-F:1-26 Using the accounting equation to analyze business transactions Indicate the effects of the following business transactions on the accounting equation of Vivian's Online
E-F:1-26 Using the accounting equation to analyze business transactions Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following accounts: Cash; Accounts Receivable Office Supplies; Office Furniture; Accounts Payable; Vivian, Capital; Vivian, With- drawals; Rental Revenue; and Rent Expense. Transaction (a) is answered as a guide. a. Received cash of $10,000 from the owner and gave capital. Answer: Increase asset (Cash); Increase equity (Vivian, Capital) b. Earned video rental revenue on account, $2,800. c. Purchased office furniture on account, $300. d. Received cash on account, $400. e. Paid cash on account, $100. f. Rented videos and received cash of $200. g. Paid monthly office rent of $1,000. h. Paid $100 cash to purchase office supplies. la hueiness transactions
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