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QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company. o. The company completed
QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company. o. The company completed consulting work for a client and immediately collected $6,600 cash earned b. The company completed commission work for a client and sent a bill for $5100 to be received within 30 days. c. The company paid an assistant $1.950 cash as wages for the period, d. The company collected $2,550 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $920 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) Assets Accounts Receivable Liabilities Accounts Payable Equity Owner, Withdrawals Revenue Expenses Owner Capital Cash + a . b 0 0 0 TIF Bal 0 0 0 + O 0 ++++++++ 0 0 + Bal D 0 + ... d I. 0 0 0 Bal 0 0 0 0 0 D + 0 0 +
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