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P1-40A (similar to) Mary Macleod opened a public relations firm called Dance Fever on August 1, 2018. The following amounts summarize her business on
P1-40A (similar to) Mary Macleod opened a public relations firm called Dance Fever on August 1, 2018. The following amounts summarize her business on August 31, 2018: (Click the icon to view the amounts.) Question Help During September 2018, the business completed the following transactions: (Click the icon to view the transactions.) Analyze the effects of the transactions on the accounting equation of Dance Fever. 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; Com. = Common; Contr. = Contributed; Div. = Dividends; Exp. = Expense; Liab=Liabilities; Rev. = Revenue; Sup. = Supplies.) ASSETS EQUITY = LIAB. Contr. Capital + Cash + A/R + Office + Land = A/P + Com. - Div. + Service Sup. Stock Rev. Bal. 2,500 + 3,100 + 0 + 10,000 = 6,000 + 6,500 0 + 3,100 Retained Earnings Rent - Exp. Adv. Exp. - 0 + + + + + a. Bal. + + +
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