For each of the following transactions, show the impact on the accounting equation:both (+ or -), and the applicable $ amount.

1.Shareholders invested $6,000.00 cash to open a consulting business.

2.The business completed state and federal income tax returns for a customer, and charged $600.00, which the customer agreed to pay within 30 days.

3.The business purchased supplies costing $400.00, paying cash.

4.The business used $300.00 of the supplies shown in 3 above.

5.The business paid total of $1,000.00 cash in dividends to shareholders.

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In your answer, make a table that looks like the one below, and enter your answers.

Assets Liabilities Owners Equity

1

2

3

4

5