Exercise 1-15 (Algo) Identifying effects of transactions using the accounting equation LO P1 Ming Chen started a business and had the following transactions in June. a. Owner invested $62,000 cash in the company along with $23,000 of equipment. b. The company paid $1,900 cash for rent of office space for the month. c. The company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $1,800 cash. e. The company completed work for a client and sent a bill for $8,100 to be received within 30 days. f. The company purchased additional equipment for $6,800 cash. g. The company paid an assistant $3,800 cash as wages for the month. h. The company collected $4,100 cash as a partial payment for the amount owed by the client in transaction e. 1. The company paid $15,000 cash to settle the liability created in transaction c. J. The owner withdrew $1,000 cash from the company for personal use. Required: Complete the table using additions and subtractions to show the dollar effects of the transactions on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Cash Accounts Receivable Liabilities Equity Equipment = Accounts Payable + Ming Chen, Capital Ming Chen, Withdrawals + Revenues Expenses a. + + b. + + Balance after a and b 0 + 0 + 0 + + 0 + C. + + = + Balance after c 0 + 0 + 0 = 0 + 0 d. + + = + - Balance after d 0 + 0 + 0 = 0 + + + 0 + 0 + 0 + 0 - 0 + 0 + 0 e. + + = + + Balance after e 0 + 0 + 0 = 0 + 0 0 + 0 0 f. + + = + + Balance after f 0 + 0 + 0 0 + 0 + 0 0 g + + = + + Balance after g 0 + 0 + 0 = 0 + 0 0 + 0 0 h. + + + + Balance after h 0 + 0 + 0 0 + 0 + 0 0 i. + + + + Balance after i 0 + 0 + 0 = 0 + 0 0 + 0 0 j. + + + + Balance after j $ 0 + $ 0 + $ 0 = $ 0 + S 0 - $ 0 + $ 0 - $ 0