Exercise 1 25 and 1 26 Effects of transactions on the accounting equation and Financial statements LO6, 7, 8 Natalie Gold is the owner of the marketing agency Vivid Voice The company focuses on online consulting services, such as online marketing campaigns and blog services The June transactions for Vivid Voice resulted in totals at June 30, 2023, as shown in the following accounting equation format Assets Liabilities Equity Cash Accounts Receivable Supplies Equipment Accounts Payable Natalie Gold,Capital Explanation of Equity Transaction $7,600 $2,800 $3,500 $8,100 $5,600 $16,400 During July, the following occurred Collected $960 from a credit customer Paid $3,300 for equipment purchased on account in June Did work for a client and collected cash $2,700 Paid a part time consultants wages $1,110 Paid the July rent $2,800 Paid the July utilities $1,400 Performed services for a customer on credit $2,400 Called an information technology consultant to fix the agencys photo editing software in August it will cost $510 1 Show the effects of the activities listed in (a) through (h) For each transaction that affects equity, select the appropriate description beside it (owner investment, owner withdrawal, revenue, expenses provided in the dropdown) (Enter all amounts as positive values If the transaction event does not affect equity or does not require a journal entry, select No Affect on Equity in the 'Explanation of equity transaction' field ) 2 Prepare an income statement for July 2023 3 Prepare an statement of changes in equity for July 2023 4 Prepare an balance sheet for July 2023 Analysis Component Review Golds balance sheet How much of the assets are financed by Gold How much of the assets are financed by debt (Do not round intermediate calculations )

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Exercise 1-25 and 1-26 Effects of transactions on the accounting equation and Financial statements LO6, 7, 8 Natalie Gold is the owner of the marketing

Exercise 1-25 and 1-26 Effects of transactions on the accounting equation and Financial statements LO6, 7, 8

Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog services. The June transactions for Vivid Voice resulted in totals at June 30, 2023, as shown in the following accounting equation format:

Assets

Liabilities

Equity

Cash

Accounts Receivable

Supplies

Equipment

Accounts Payable

Natalie Gold,Capital

Explanation of Equity Transaction

$7,600

$2,800

$3,500

$8,100

$5,600

$16,400

During July, the following occurred:

Collected $960 from a credit customer.
Paid $3,300 for equipment purchased on account in June.
Did work for a client and collected cash; $2,700.
Paid a part-time consultants wages; $1,110.
Paid the July rent; $2,800.
Paid the July utilities; $1,400.
Performed services for a customer on credit; $2,400.
Called an information technology consultant to fix the agencys photo editing software in August; it will cost $510.

1. Show the effects of the activities listed in (a) through (h). For each transaction that affects equity, select the appropriate description beside it (owner investment, owner withdrawal, revenue, expenses provided in the dropdown). (Enter all amounts as positive values. If the transaction/event does not affect equity or does not require a journal entry, select "No Affect on Equity" in the 'Explanation of equity transaction' field.)

2. Prepare an income statement for July 2023.

3. Prepare an statement of changes in equity for July 2023.

4. Prepare an balance sheet for July 2023.

Analysis Component: Review Golds balance sheet. How much of the assets are financed by Gold? How much of the assets are financed by debt? (Do not round intermediate calculations.)