page 36 Exercise 1-11 Identifying effects of transactions on accounting equation P1 The following table shows the effects of five transactions (a through e) on the assets, liabilities, and equity of Firas' Boutique. Write short descriptions of the probable nature of each transaction. Assets - Liabilities + Equity Cash + + + Land - + + Revenues Accounts Receivable $ 0 Office Supplies $3,000 Accounts Payable $ 0 Firas. Capital $43.000 + + + $ 19,500 4,000 = + $ 21,500 - 4,000 + $ 0 + 1,000 +1,000 1,900 -1,000 d. e + 1,900 - 1.000 + 1,900 - 1.900 $ 17,900 + S0 + $4,000 + $23.000 = 5 0 + $43,000 + $1,900