Melody Stafford operates an interior design studio called Stafford Design Studio. The following amounts summarine the financial position of the business on April 30, 2020 (Click the icon to view the financial position.) During May 2020, the company did the following (Click the icon to view the transactions.) Required Requirement 1. Analyze the effects of the above transactions on the accounting equation of Stafford Design Studio Complete an analysis of the transactions for each letter shown, and then total the balance of each account at the bottom. (If a box is not used in the transaction, leave the box empty: do not select a label or enter a zero. Enter decreases with a minus sign or parentheses.) Assets Cash . Bal 43,000. a Accounts Receivable 36,000. Supplies + 0. Land 114,000- Liablites Accounts Payable 51,000. CHO . Owner's Equity M. Stafford. Capital 142.000 Type of Owner's Equity transaction

Madelyn Sinclair operates an interior design studio called Sinclair Design Studio. The following amounts summarize the financia (Click the icon to view the financial position.) During May 2020, the company did the following: (Click the icon to view the transactions.) Required Requirement 1. Analyze the effects of the above transactions on the accounting equation of Sinclair Design Studio. Complete an analysis of the transactions for each letter shown, and then total the balance of each account at the bottom. (If a b enter a zero. Enter decreases with a minus sign or parentheses.) Assets Bal. a. Cash + 43,000 + 30000 + Accounts Receivable + 34,000 + + Supplies + 0 + + Land = = 104,000 = = Liabilities + Owner's Equity Accounts Payable + 35,000 + M. Sinclair, Capital 146,000 + Type of Owner's Equity transaction Transactions a. Sinclair received $30,000 as a gift and deposited the cash in the business bank account. b. Paid the beginning balance of accounts payable. C. Performed services for a client and received cash of $6,000. d. Collected cash from a customer on account, $4,800. e. Purchased supplies on account, $3,200. f. Consulted on the interior design of a major office building and billed the client for services rendered, $28,000. g. Recorded the following business expenses for the month: (1) Paid office assistants their salaries for the month, $7,200. (2) Paid advertising-$4,000. h. Sold supplies to another interior designer for $2,400 cash, which was the cost of the supplies