Karleen's Catering Service provides catered reals to individuals and businesses. Karieen's purchases its food ready to serve from Mers Restaurant. In order to prepare a realistic trial oztance, the events described below are aggregations of many individual events during the year a Common stock was issued for $22,000. b. During the year, Karen's paid office rent of $13,500 c. Utilities expenses incurred and paid were 55,320 d. Wages of $58.000 were earned by employees and paid during the year. a. During the year Karleen's provided catering services On credit $520,200 Forcat 10,650 Karleen's paid $59,130 for supplies purchased and used during the year Karen's paid dividends in the amount of $3.500 h. Kadeen collected accounts receivable in the amount of $109,400 Requiredi 1. Analyze the events for their effect on the accounting equation. It an amount box does not mean tveit bank tercremes in account values as negative number of the effect of a transaction is to increase ND decrease the sameton (Asset her once the nect on the ser Assets Liabilities Equity 22,000 22.000 - 13,500 13,500 X 5.320 X -5,320 d 53,000 S.BOOX 146,850 146,850 -59.110 59,110 X -3.500 3.500 X eBook Required: 1. Analyze the events for their effect on the accounting equation. It an amount box does not require an entry.reve blank Enter decreases in account values as negative number If the effect of a transaction is to increase and decrease the same sem (le, torty enter *o* since the nec effect on the item is zero, Assets Liabilities Equity 22,000 22,000 - 13,500 13,500X -5,320 5,320 X 58,800 x -58,800 146,050 146.00 - 59,510 59,110 X 3.500 3,500 X 109,400 x - 109,400 x YOW 1. To perform transaction analys, complete setting steps Step 11 write down the accountington Step 2: Dentify the financial statement elements that are affected by the transaction Previous Next > Check My Work Dachy Woo