Gaved Exercise 1-15 (Algo) Identifying effects of transactions using the accounting equatlon LO P1 Ming Chen started a business and had the following transactions in June. a. Owner invested $67.000 cash in the company along with $17.000 of equipment. b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $17.000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,200 cash. e. The company completed work for a client and sent a bill for $8.900 to be received within 30 days. f. The company purchased additional equipment for $5.600 cash. g. The company paid an assistant $3,200 cash as wages for the month. h. The company collected $5,800 cash as a partial payment for the amount owed by the client in transaction e. 1. The company paid $17.000 cash to settle the liability created in transaction c. J. The owner withdrew $1,400 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 (Enter decreases to account balances with a mlnus slgn.) Assets Liabilities + Equity - + + Revenues M. Chen, Capital M. Chen, Withdrawals Expenses Cash Accounts Receivable Accounts Payable + Equipment equation (Enter decreases to account balances with a minus slgn.) Liabilities Cash + Accounts Receivable + Equipment Accounts Payable M Chen Capital s 67,000 + + $ 17,000 + b + + + 1.500 (1,500) 65,500 + Balance after a and b 0 + 17.000 0 + 0 0 1.500 + + 17,000 17,000 + Balance after c 65,500 + 0 + 34.000 17.000 + 0 - 1,500 d 2,200 + + + + 2.2001 Balance after d 67.700 + 0 + 34.000 = 17.000 + 0 0 2.200 1.500 le. + 8.900 + + 8.900 Balance after e 67.700 + 8,900 + 34,000 17,000 + 0 0 11.100 1.500 f. + 5,600 + (5,600) + 62.100 + Balance after f 8.900 + 39,600 17.000 + 0 0 + 11.100 1.500 3.2001 + + 18. Balance after a (3,200) + 58.900 + 8.900 39,600 17 000 + 0 0 11.100 4.700 = + b. (5,800) + + + + + + + + + + + + + 5,800 84.700 (17,000) Balance after ha 3.100 + 0 + 39.600 17.000 11.100 - 1. + (17.000) + 0 3.100 + 39,600 47.700 + 0 Balance after i 11.100 4.700 1,400 + (1,400) 46,300 + + + + II $ 39,600 3.100 + 0 s S $ $11.100 $ $ 4,700 5 Balance after] 1,400