Marigold Petronick decided to start an accounting practice after graduation from university. The following is a list of events that occurred concerning Marigold's practice.

1.		After shopping around, Marigold found an office to lease and signed a lease agreement. The lease calls for a payment of $1,040 rent per month.
2.		Marigold borrowed $4,160 from his grandmother so that he could buy some office furniture for his new office.
3.		Marigold deposited the $4,160 plus $520 of his own cash in a new bank account at BMO under the name Petronick Accounting Services.
4.		Paid the landlord the first month's rent.
5.		Purchased office furniture for $3,435 on account.
6.		Moved into the office and obtained the first assignment from a client to prepare year-end financial statements for $2,080.
7.		Performed the work on the assignment and sent an invoice to the customer for $2,080.
8.		Paid half of the amount of the purchase of office furniture.
9.		Purchased office supplies on account for $315.
10.		Paid $55 cash for Internet services.
11.		Collected half of the amount owing from the customer referred to in #7.
12.		Marigold withdrew cash from the business of $150 for personal expenses.

Using the above table, indicate the effects of each of these events on the accounting equation. If an event is not a business transaction, or if an element is not affected, enter No Effect. If an element has both an increase and a decrease, select Increase and Decrease.

Event Asset Liability Owner's Equity 1. No Effect No Effect > 7. 8. 9. 10.