Effects of transactions

eBook Show Me How Calculator Print Item Effects of Transactions (Revenue, Expense, Withdrawals) Assume John Sullivan completed the following additional transactions during February. (e) Received cash from a client for professional services, $1,740. (1) Paid office rent for February, $570 (g) Paid February phone bill, $62. (h) Withdrew cash for personal use, $1,010 (i) Performed services for clients on account, $870. U) Paid wages to part-time employee, $1,110. (k) Received cash for services performed on account in transaction (), $550. (Enter the change in Cash on the first line and the change in other account or the second line.) Show the effect of each transaction on the basic elements of the expanded accounting equation: Assets - Liabilities + Owner's Equity (Capital - Drawing + Revenues - Expenses). Use the minus sign to indicate a decrease or reduction in the account. After transaction (k), report the totals for each element. If an amount box does not require an entry, leave it blank. Owner's Equity AssetsLiabilitiesCapitalDrawingRevenues Expenses 31830 Bal 5160 26670