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Marian Crane opened a public relations firm called Shining Stars on August 1, 2018. The following amounts summarize her business on August 31, 2018: E:
Marian Crane opened a public relations firm called Shining Stars on August 1, 2018. The following amounts summarize her business on August 31, 2018: E: (Click the icon to view the amounts.) During September 2018, the business completed the following transactions: i (Click the icon to view the transactions.) Analyze the effects of the transactions on the accounting equation of Shining Stars. + Analyze the events chronologically, one transaction at a time. Beginning with transaction a., calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. (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; Adv. = Advertising; Cap. = Crane, Capital; Exp. = Expense; Liab = Liabilities; Rev. = Revenue; Sup. = Supplies; Withdr. = Crane, Withdrawals.) ASSETS LIAB. . EQUITY Cash A/R + Office Land A/P + Cap. - Withdr. + Service Rent Adv. X Sup. Rev. 1 More Info Exp. Exp. Bal. 3,300 0 14,000 = 6,000 10,800 3,300 0 + + 2,800 0 0 a. + + + + + Bal. + a. b. + C. d. e. f. Marian Crane contributed $15,000 cash in exchange for capital. Performed service for a client and received cash of $600. Paid off the beginning balance of accounts payable. Purchased office supplies from OfficeMax on account, $900. Collected cash from a customer on account, $2,400. Crane withdrew $1,800. Consulted for a new band and billed the client for services rendered, $4,200. Recorded the following business expenses for the month: 1. Paid office rent: $800. 2. Paid advertising: $350. g. h. Print Done
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