Points 30 a 1. Accounting Equation A. For each of the following transactions, apply the accounting equation Asset = Liability and Owner Equity. Use a spreadsheet similar to your lab to prepare each transaction. I B. Identify the effects as reflected in the accounting equation. Use "+" to indicate an increase and a "_" to indicate a decrease. N/A for not effect. Use "A", "L", and "E" to indicate assets, liabilities and equity, respectively. 1. Paul invested $200,000 in cash to start up his company. 2. Equipment was purchased for $100,000. A down payment of $30,000 cash was made and a note was signed for the balance of $70,000. 3. Services were rendered to customers for $60,000and received of $40,000 and the remaining S20,000 would be paid later by the customers. 4. A building was purchased for S200,000 with a down payment of $50.000 and a mortgage note was signed for the balance of $150.000. 5. Supplies of $10,000 were purchased with cash this will be used in the future. 6. Paid the office secretary's salary of S3.000. 7. Cash of $45,000 was received for work to be performed in the future months 8. Cash payment of $12,000 was made as advance payment for 12 months insurance. 9. Dividend of S30,000 cash was paid to the Paul. 10. Paid S3,000 for utilities used in the business