Mar. 1

Bell a sold personal investment in Amazon.com (NASDAQ: AMZN) stock, receiving $27,000 cash.

Mar. 2

Deposited the $27,000 cash from the sale of the Amazon.com stock in a personal bank account.

Mar. 3

Deposited $70,000 cash in a new business bank account titled Benzo Bell, Attorney. The business issued common stock to Bell.

Mar. 5

Paid $600 cash for supplies.

Mar. 7

Purchased computer for the law office, agreeing to pay the account, $6,500, within three months.

Mar. 9

Received $3,500 cash from customers for services rendered.

Mar. 15

Received bill from The Lawyer for magazine subscription, $200. (Use Miscellaneous Expense account.)

Mar. 23

Finished court hearings on behalf of a client and submitted a bill for legal services, $12,500, on account.

Mar. 28

Paid bill from The Lawyer.

Mar. 30

Paid utilities, $880.

Mar. 31

Received $2,500 cash from clients billed on March 23.

Mar. 31

Cash dividends of $1,500 were paid to the stockholder.

Requirement 1. Analyze the effects of the preceding events on the accounting equation of

Benzo

Bell,

Attorney.

Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows thetransaction on the 1st,calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the

31st,

calculate total assets and total liabilities and equity. (Complete only the necessary input fields for your transaction lines. If a transaction is personal and does not affect the business, leave the transaction line blank. 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; Com. = Common; Contr. Cap. = Contributed Capital; Div. = Dividends; Comp. = Computer; Exp. = Expense; Liab. = Liabilities; Misc. = Miscellaneous; Rev. = Revenue; Sup. = Supplies; Util. = Utilities.)

ASSETS=LIAB.+EQUITYContr.Cap.+Retained EarningsCash+A/R+Sup.+Comp.=A/P+Com.-Div.+Service-Util.-Misc.StockRev.Exp.Exp.3/12700+++=+-+-880-2003/2+++=+-+--Bal.+++=+-+