Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.

a.	Lita Lopez invests $60,000 cash and office equipment valued at $34,000 in the company in exchange for its common stock.
b.	The company purchased a $308,000 building to use as an office. Biz Consulting paid $45,000 in cash and signed a note payable promising to pay the $263,000 balance over the next 10 years.
c.	The company purchased office equipment for $5,700 cash.
d.	The company purchased $3,600 of office supplies and $1,600 of office equipment on credit.
e.	The company paid a local newspaper $870 cash for printing an announcement of the offices opening.
f.	The company completed a financial plan for a client and billed that client $4,400 for the service.
g.	The company designed a financial plan for another client and immediately collected a $8,600 cash fee.
h.	The company paid $1,700 cash in dividends to the owner (sole shareholder).
i.	The company received $3,400 cash as partial payment from the client described in transaction f.
j.	The company made a partial payment of $800 cash on the equipment purchased in transaction d.
k.	The company paid $2,400 cash for the office secretarys wages for this period.

Required:

2.

Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign.)

Cash +

Receivable +

Supplies +

Equipment +

Building =

Payable +

Payable +

Common Stock -

Dividends +

Revenues -

Expenses

Cash + Recievable + Supplies + Equipment + Building = Payable + Payable + Common stock - Dividends + Revenues -Expenses