K Allen Shonton recently opened his own accounting firm on April 1, which he operates as a sole proprietorship. The name of the new entity is Allen Shonton, CPA. Shonton experienced the following events during the organizing phase of the new business and its first month of operations in 2024: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Analyze the effects of the events on the accounting equation of the sole proprietorship of Allen Shonton, CPA. Use the following accounts: Cash; Accounts Receivable, Office Supplies; Furniture; Accounts Payable; Shonton, Capital, Shonton, Withdrawals; Service Revenue, Rent Expense, and Utilities Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5th. For each transaction that follows the transaction on the 5th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used A/P = Accounts Payable; A/R = Accounts Receivable; Cap. = Shonton, Capital; Exp. = Expense; Furn. = Furniture; Liab. = Liabilities, Rev. = Revenue, Sup. = Supplies, Util. = Utilities; Withdr. = Shonton, Withdrawals) 4/5 4/6 Bal. Cash + 75,000 74700 A/R + + ASSETS + + Office Sup. + + + 300 + + + Furn. = = = LIAB. A/P + + Cap. + 75,000 74700 + FEITE +TATU * Withdr EQUITY + Service Rev. + - Rent Exp. - Util. Exp.

(1) (Click the iogn to view ithe fransactions) Read the trovirements (1) (Click the iogn to view ithe fransactions) Read the trovirements